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- H.R.3003
H.R.3003: To amend the Internal Revenue Code of 1986 to provide tax incentives to encourage diversity of ownership of telecommunications businesses, and for other purposes.
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced July 11, 2007
- Latest Major Action July 11, 2007
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Summary
Amends the Internal Revenue Code to allow a taxpayer election to defer from tax up to $50 million of the gain from the sale of the assets or stock of a telecommunications business to certain small businesses that own 10 or fewer broadcast stations. Limits to three the number of such purchases by any qualifying small business. Requires the recapture of such deferred gain for any telecommunications business resold within five years.Authorizes...
(Source: Library of Congress)
Bill Actions
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Sponsor introductory remarks on measure.
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Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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Referred to House Ways and Means
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Referred to House Small Business
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| July 11, 2007 |
Introduced in the House by Charles B. Rangel (D-N.Y.) |