S. 3217 (106th): District of Columbia Economic Renaissance Act of 2000

Introduced:
Oct 18, 2000 (106th Congress, 1999–2000)
Sponsor:
Sen. Connie Mack III [R-FL]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on October 18, 2000, in a previous session of Congress, but was not enacted.

Progress
Introduced Oct 18, 2000
Referred to Committee Oct 18, 2000
Cosponsors
1 cosponsors (1R) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Internal Revenue Code of 1986 to provide for individuals who are residents of the District of Columbia a maximum rate of tax of 15 percent on income from sources within the District of Columbia, and for other purposes.

Summary

No summaries available.

Text

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Last updated Oct 18, 2000.
21 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

10/18/2000--Introduced.
District of Columbia Economic Renaissance Act of 2000 - Amends the Internal Revenue Code to allow residents of the District of Columbia (DC) to elect to limit their net income tax to the sum of: (1) 15 percent of so much District-sourced income as exceeds the exemption amount (as defined); and (2) the average rate of the non-District-sourced adjusted gross income (as defined).
Provides, with respect to the zero percent capital gains rate currently applicable only to the sale of DC Zone assets, that the DC Zone shall include all DC census tracts.
Makes the first-time homebuyer credit for DC permanent.
Excludes certain DC source income for purposes of the alternative minimum tax.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)