S. 97Senate108th Congress (2003-2005)In Committee

A bill to treat certain hospital support organizations as qualified organizations for purposes of determining acquisition indebtedness.

Introduced January 7, 2003

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S77-78)

January 7, 2003

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SenateIntro Referral

Introduced in Senate

January 7, 2003

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S76-77)

January 7, 2003

SenateIntro Referral

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S77-78)

January 7, 2003

Floor Debate

18 members

What members said about S. 97 on the floor

8 Republicans10 Democrats
Daniel K. Inouye
Sen. Daniel K. InouyeD-HI · Jan 7, 2003

Mr. President, I am reintroducing legislation today that would direct the Secretary of the Army to determine whether certain nationals of the Philippine Islands performed military service on behalf…

Susan M. Collins
Sen. Susan M. CollinsR-ME · Jan 7, 2003

Mr. President, I am pleased to join with my colleague from Louisiana, Senator Landrieu, in introducing the Access to Affordable Health Care Act, a comprehensive, seven-point plan that builds on the…

Dianne Feinstein
Sen. Dianne FeinsteinD-CA · Jan 7, 2003

Mr. President, I join my good friend, Senator Kyl, in introducing S.J. Res, 1, the Victims' Rights Amendment. Two years ago, the Senate debated a proposed constitutional amendment drafted by Senator…

Jon Kyl
Sen. Jon KylR-AZ · Jan 7, 2003

Mr. President, I rise to introduce the Crime Victims' Rights Amendment. The scales of justice are imbalanced. The U.S. Constitution, mainly through amendments, grants those accused of crime many…

Hillary Rodham Clinton
Sen. Hillary Rodham ClintonD-NY · Jan 7, 2003

Mr. President, I am introducing the Small Employer Tax Assistance for Health Care Act of 2003, SETAH, a bill to provide tax subsidy to small employers to help them provide health coverage to their…

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Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Jan 7, 2003

Mr. President, I am pleased to join today with my colleague from New Hampshire, Mr. Gregg, to introduce legislation to extend budgetary enforcement and to maintain fiscal accountability and…

Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Mar 9, 2004

Mr. President, I am pleased to submit the People-to- People Engagement in World Affairs resolution with my esteemed colleague, Senator Chuck Hagel. In the 1960s, during a troubled and divisive time…

Larry E. Craig
Sen. Larry E. CraigR-ID · Jan 7, 2003

Mr. President, today I am reintroducing a Balanced Budget Amendment to the Constitution of the United States. When we were in deficit and when we were in surplus, I have always said, if we could…

Byron L. Dorgan
Sen. Byron L. DorganD-ND · Jan 7, 2003

Mr. President, I rise to speak as a cosponsor of S. 105. This bill repeals provisions of the Homeland Security Act offering certain liability protections to pharmaceutical companies. Mr. President,…

Debbie Stabenow
Sen. Debbie StabenowD-MI · Jan 7, 2003

Mr. President, today I rise to keep a promise I made in November. On this, the very first day of the 108th Congress, I am introducing a bill that will remove the controversial vaccine component…

Chuck Grassley
Sen. Chuck GrassleyR-IA · Jan 7, 2003

Mr. President, the Fair Contracts for Growers Act of 2003 would simply give farmers a choice of venues to resolve disputes associated with agricultural contracts. This legislation would not prohibit…

Paul S. Sarbanes
Sen. Paul S. SarbanesD-MD · Mar 9, 2004

Mr. President, today I am submitting legislation together with Senator Mikulski that would recognize the achievements of The Garden Club of America on the occasion of its 91st annual meeting in…

Candice S. Miller
Rep. Candice S. MillerR-MI-10 · Apr 20, 2004

Mr. Speaker, I move to suspend the rules and concur in the Senate concurrent resolution (S. Con. Res. 97) recognizing the 91st annual meeting of the Garden Club of America. Mr. Speaker, I ask…

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Ernest F. Hollings
Sen. Ernest F. HollingsD-SC · Jan 7, 2003

Mr. President, we have a whole list of every senator, and every candidate in last year's election, all coming out and saying we won't touch Social Security. The President of the United States…

Danny K. Davis
Rep. Danny K. DavisD-IL-7 · Apr 20, 2004

Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, as the cold of winter warms to spring, and as trees bud and flowers bloom, we pause to appreciate the beauty of nature. And so it…

Orrin G. Hatch
Sen. Orrin G. HatchR-UT · Jan 7, 2003

Mr. President, on this first day of the 108th Congress, I rise to address the serious matter of pay inequity in the Federal judiciary. As things stand now, nearly every Federal employee will receive…

Rush Holt
Rep. Rush HoltD-NJ-12 · Apr 20, 2004

Mr. Speaker, I rise in support of S. Con. Res. 97 and in recognition of the Garden Club of America and its members in central New Jersey. Since its inception in 1913, the Garden Club of America has…

Thomas E. Petri
Rep. Thomas E. PetriR-WI-6 · Apr 20, 2004

Mr. Speaker, I rise in support of Senate Concurrent Resolution 97 recognizing the Garden Club of America's 91st annual meeting this week here in Washington, D.C. The Garden Club of America, founded…

Don Nickles
Sen. Don NicklesR-OK · Jan 7, 2003

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

Latest available legislative text

Reading Mode
Latest
Introduced in SenateIssued January 7, 2003
        [Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 97 Introduced in Senate (IS)]

108th CONGRESS
1st Session
S. 97

To treat certain hospital support organizations as qualified
organizations for purposes of determining acquisition indebtedness.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

January 7, 2003

Mr. Inouye introduced the following bill; which was read twice and
referred to the Committee on Finance

_______________________________________________________________________

A BILL

To treat certain hospital support organizations as qualified
organizations for purposes of determining acquisition indebtedness.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. TREATMENT OF CERTAIN HOSPITAL SUPPORT ORGANIZATIONS AS
QUALIFIED ORGANIZATIONS FOR PURPOSES OF DETERMINING
ACQUISITION INDEBTEDNESS.

(a) In General.--Subparagraph (C) of section 514(c)(9) of the
Internal Revenue Code of 1986 (relating to real property acquired by a
qualified organization) is amended by striking ``or'' at the end of
clause (ii), by striking the period at the end of clause (iii) and
inserting ``; or'', and by adding at the end the following new clause:
``(iv) a qualified hospital support
organization (as defined in
subparagraph (I)).''.
(b) Qualified Hospital Support Organizations.--Paragraph (9) of
section 514(c) of the Internal Revenue Code of 1986 is amended by
adding at the end the following new subparagraph:
``(I) Qualified hospital support organizations.--
For purposes of subparagraph (C)(iv), the term
`qualified hospital support organization' means, with
respect to any eligible indebtedness (including any
qualified refinancing of such eligible indebtedness), a
support organization (as defined in section 509(a)(3))
which supports a hospital described in section
119(d)(4)(B) and with respect to which--
``(i) more than half of its assets
(by value) at any time since its
organization--
``(I) were acquired,
directly or indirectly, by
testamentary gift or devise,
and
``(II) consisted of real
property, and
``(ii) the fair market value of the
organization's real estate acquired,
directly or indirectly, by gift or
devise, exceeded 25 percent of the fair
market value of all investment assets
held by the organization immediately
prior to the time that the eligible
indebtedness was incurred.
For purposes of this subparagraph, the term `eligible
indebtedness' means indebtedness secured by real
property acquired by the organization, directly or
indirectly, by gift or devise, the proceeds of which
are used exclusively to acquire any leasehold interest
in such real property or for improvements on, or
repairs to, such real property. A determination under
clauses (i) and (ii) of this subparagraph shall be made
each time such an eligible indebtedness (or the
qualified refinancing of such an eligible indebtedness)
is incurred. For purposes of this subparagraph, a
refinancing of such an eligible indebtedness shall be
considered qualified if such refinancing does not
exceed the amount of the refinanced eligible
indebtedness immediately before the refinancing.''.
(c) Effective Date.--The amendments made by this section shall
apply to indebtedness incurred after December 31, 2003.
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