HR 2360 · 108th Congress · Taxation
Capital Construction Fund Qualified Withdrawal Act of 2003
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Committee on Ways and Means, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2003-06-05)
Plain Language Summary
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Capital Construction Fund Qualified Withdrawal Act of 2003 - Amends the Merchant Marine Act and the Internal Revenue Code to permit as qualified withdrawals from fishing capital construction funds money used by retiring fishermen for the following purposes: (1) paying the net proceeds to a person retiring related commercial fishing vessels and permits; (2) making a rollover contribution into an owner's individual retirement plan; (3) making a payment of an industry fee authorized by the fishing capacity reduction program; and (4) acquiring a vessel monitoring system or the aquisition or construction of fishing gear designed to minimize or avoid bycatch.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (10)
9 Democrats1 Republican