Congress 107 - HR 5081 - Property Tax Endowment Act of 2002

Sponsor

Cosponsors

Topics

Appropriations Department of the Interior Economics and Public Finance Federal-local relations Finance and Financial Sector Government Operations and Politics Government paperwork Government trust funds Interest Intergovernmental fiscal relations Land transfers Local finance Local taxation Payments in lieu of taxes Property tax Public Lands and Natural Resources Tax-exempt organizations Taxation

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Summary

Property Tax Endowment Act of 2002 - Amends Federal law to fund the payment in lieu of taxes program for five years.

Permits a local government to receive a one-time payment to offset revenue loss from a Federal acquisition of land within its jurisdiction. Specifies that if a local government receives a one-time payment, the acquired land shall not be considered entitlement land, irrespective of changes in economic factors.

Applies this Act to land acquisitions completed after September 30, 1998. Specifies criteria for determining amounts of one-time payments.

Provides that in the case of land acquired before enactment of this Act, the head of the Federal land management agency shall deduct from the one-time payment the amount of any Federal sums paid to the local government since September 30, 1998.

Requires each one-time payment to go into a trust fund, the interest of which may be used for any governmental purpose. Forbids expenditure of the principal of such a fund.

Actions

Jul 25, 2002

Joint Hearings held by the Subcommittee on Fisheries Conservation, Wildlife, and Oceans, by the Subcommittee on Forests and Forest Health, and by the Subcommittee on National Parks, Recreation, and Public Lands.
Jul 25, 2002

Joint Hearings held by the Subcommittee on National Parks, Recreation, and Public Lands, by the Subcommittee on Forests and Forest Health, and by the Subcommittee on Fisheries Conservation, Wildlife and Oceans.
Jul 25, 2002

Joint Hearings held by the Subcommittee on Forests and Forest Health, by the Subcommittee on National Parks, Recreation, and Public Lands, and by the Subcommittee on Fisheries Conservation, Wildlife and Oceans.
Jul 19, 2002

Referred to the Subcommittee on Forests and Forest Health.
Jul 19, 2002

Referred to the Subcommittee on Fisheries Conservation, Wildlife and Oceans.
Jul 19, 2002

Referred to the Subcommittee on National Parks, Recreation and Public Lands.
Jul 16, 2002

Referred to the Subcommittee on Department Operations, Oversight, Nutrition and Forestry.
Jul 9, 2002

Referred to the Committee on Resources, and in addition to the Committee on Agriculture, 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.
Jul 9, 2002

Introduced in House

Amendments

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