HR 677 · 106th Congress · Taxation

Boat Building Investment Act of 1999

Introduced 1999-02-10· Sponsored by Rep. Kennedy, Patrick J. [D-RI-1]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Telecommunications, Trade, and Consumer Protection, for a period to be subsequently determined by the Chairman.(1999-03-01)

Plain Language Summary

[AI summary unavailable — showing source text] Boat Building Investment Act of 1999 - Amends the Internal Revenue Code to allow a personal tax credit (20 percent of the cost, $2 million maximum) for the purchase of a new U.S.-made luxury yacht. Sets forth credit recapture rules upon disposition or registration or maintenance outside the United States. Directs the Secretary of Commerce to establish a grant program to: (1) encourage persons outside the United to purchase such yachts; and (2) train yacht workers. Authorizes appropriations.…

Summarized by Claude AI · Non-partisan · For informational purposes only