A bill to amend the Internal Revenue Code of 1986 to provide a credit to holders of rural renaissance bonds.

Read twice and referred to the Committee on Finance.

Congressional Research Service

Official summary

Version 00 · Introduced in Senate · May 2, 2007

Amends the Internal Revenue Code to allow holders of rural renaissance bonds a tax credit of 25% of the annual credit amount for such bonds as determined by the Secretary of the Treasury. Defines "rural renaissance bond" as any bond issued by a rural renaissance bond lender, a cooperative electric company, or a governmental body that is used for capital expenditures for qualified projects in rural areas, including projects for water or waste treatment, distance learning or telemedicine programs, rural electric and telephone programs, and broadband access programs.

Sets forth rules for bond refinancing, maturity limitations, and allocations, including a requirement that 95% of the proceeds from the sale of a rural renaissance bond be spent on qualified projects within five years from the date of a bond issuance.

Terminates the authority for issuing rural renaissance bonds after 2008.

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People & committees

Who introduced it

Sen. Coleman, Norm [R-MN] · R–MN

Committees

Finance Committee

1 cosponsorship records, including any withdrawals

Sen. Pryor, Mark L. [D-AR]

Legislative record

Actions

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May 2, 2007
Read twice and referred to the Committee on Finance.
May 2, 2007
Introduced in Senate

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in Senate · May 2, 2007 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.

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Objective

Analyze S.1264 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss S.1264, 110th Congress: A bill to amend the Internal Revenue Code of 1986 to provide a credit to holders of rural renaissance bonds.

Official record: https://www.congress.gov/bill/110th-congress/senate-bill/1264

Text version to examine: Introduced in Senate · 2007-05-02.

Official full text: https://www.congress.gov/110/bills/s1264/BILLS-110s1264is.htm

Imported record last updated by the source: 2025-01-14T19:05:45Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze S.1264 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine S.1264 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss S.1264, 110th Congress: A bill to amend the Internal Revenue Code of 1986 to provide a credit to holders of rural renaissance bonds.

Official record: https://www.congress.gov/bill/110th-congress/senate-bill/1264

Text version to examine: Introduced in Senate · 2007-05-02.

Official full text: https://www.congress.gov/110/bills/s1264/BILLS-110s1264is.htm

Imported record last updated by the source: 2025-01-14T19:05:45Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.1264 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine S.1264 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss S.1264, 110th Congress: A bill to amend the Internal Revenue Code of 1986 to provide a credit to holders of rural renaissance bonds.

Official record: https://www.congress.gov/bill/110th-congress/senate-bill/1264

Text version to examine: Introduced in Senate · 2007-05-02.

Official full text: https://www.congress.gov/110/bills/s1264/BILLS-110s1264is.htm

Imported record last updated by the source: 2025-01-14T19:05:45Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.1264 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine S.1264 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss S.1264, 110th Congress: A bill to amend the Internal Revenue Code of 1986 to provide a credit to holders of rural renaissance bonds.

Official record: https://www.congress.gov/bill/110th-congress/senate-bill/1264

Text version to examine: Introduced in Senate · 2007-05-02.

Official full text: https://www.congress.gov/110/bills/s1264/BILLS-110s1264is.htm

Imported record last updated by the source: 2025-01-14T19:05:45Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine S.1264 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.