legislation: 106-s-3235

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
106-s-3235 106 s 3235 Telecommunications Ownership Diversification Act of 2000 Taxation 2000-10-25 2000-10-25 Read twice and referred to the Committee on Finance. Senate Sen. McCain, John [R-AZ] AZ R M000303 1 Telecommunications Ownership Diversification Act of 2000 - Amends the Internal Revenue Code (IRC) to provide for the nonrecognition of certain gain on the sale of telecommunications businesses meeting certain requirements, including requirements concerning minority ownership.Allows a limited credit for a taxpayer that at all times during that taxable year: (1) is a local exchange carrier; (2) is not a Bell operating company; and (3) is headquartered in an area designated as an empowerment zone.Requires biennial audits and reports by the Comptroller General relating to the IRC amendments made by this Act. 2025-08-20T14:21:11Z  

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