H.R. 4676 (106th): Space Transportation Investment Act of 2000

Introduced:
Jun 15, 2000 (106th Congress, 1999–2000)
Status:
Died (Referred to Committee)
Sponsor
Merrill Cook
Representative for Utah's 2nd congressional district
Party
Republican
Text
Read Text »
Last Updated
Jun 15, 2000
Length
16 pages
 
Status

This bill was introduced on June 15, 2000, in a previous session of Congress, but was not enacted.

Progress
Introduced Jun 15, 2000
Referred to Committee Jun 15, 2000
 
Full Title

To amend the Internal Revenue Code of 1986 to encourage the timely development of a more cost effective United States commercial space transportation industry, and for other purposes.

Summary

No summaries available.

Cosponsors
none
Committees

House Ways and Means

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


6/15/2000--Introduced.
Space Transportation Investment Act of 2000 - Amends the Internal Revenue Code to allow a tax credit for the purchase of qualified space transportation vehicle provider stock (stock representing an investment in the development, production, and operation of commercial space transportation vehicles).
Makes such credit a specified percentage of the amount of stock purchased during a calendar year, beginning with 50 percent for 2001 and gradually reducing such amount to ten percent for 2006 through 2010.
Provides for the recapture of such credit when the stock issuer ceases to be qualified.Establishes a U.S. Commercial Space Transportation Vehicle Industry certification program to provide certification for tax credit qualification under the Code to multiple U.S. commercial space transportation vehicle providers developing vehicles with space transportation costs significantly below current levels.
Directs the Secretary of Transportation to administer such program under a streamlined application process.
Requires the program to provide eligibility for tax credits to investors to support financing of qualified commercial space transportation vehicle development ventures during startup phases.
Excludes certification with respect to the construction, reconstruction, or reconditioning of space launch sites, or of any product which is not integral to the design, development, construction, reconstruction, or reconditioning of a space transportation vehicle.
Provides for:
(1) the nondisclosure of confidential information in connection with the application process;
(2) appropriate consultation; and
(3) program management.
Deems a certification as granted unless the Secretary, within 120 days of application, determines that the provider has no reasonable possibility of significantly lowering space transportation vehicle costs.
Requires a certified provider to annually verify the use of funds for appropriate purposes.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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