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S. 1603

U.S. Senate•In Senate Committee

Summary

S. 1603, the Preserving Rural Housing Investments Act, was introduced in the Senate on May 6, 2025 by Sen. Jerry Moran (R) with 3 co-sponsors. It was referred to Finance, and last saw action on May 6, 2025: Read twice and referred to the Committee on Finance.

Record

Text

S. 1603 has 3 co-sponsors.

sb1603/introduced-in-senate.txt
119 S1603 IS: Preserving Rural Housing Investments Act
 U.S. Senate
 2025-05-06
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 1603  IN THE SENATE OF THE UNITED STATES   May 6, 2025   Mr. Moran  (for himself,  Mr. Young ,  Mr. Welch , and  Mr. Warner ) introduced the following bill; which was read twice and referred to the  Committee on Finance    A BILL
To amend the Internal Revenue Code of 1986 to clarify the tax-exempt controlled entity rules with respect to certain stock of government-sponsored enterprises.
1.
Short title
This Act may be cited as the   Preserving Rural Housing Investments Act  .
2.
Clarification of tax-exempt controlled entity rules with respect to certain stock of government-sponsored enterprises
(a)
In general
 Section 168(h)(6)(F)(iii)(I)  of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence:  For purposes of applying the preceding sentence to the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association, the term  tax-exempt entity  shall not include the United States or any agency or instrumentality of the United States. .
(b)
Effective date
The amendment made by this section shall apply to taxable years ending after July 30, 2008.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-05-06
  2. Passed Senate
  3. Passed House
  4. Conference
  5. To President
  6. Became Law

A bill to amend the Internal Revenue Code of 1986 to clarify the tax-exempt controlled entity rules with respect to certain stock of government-sponsored enterprises.

Sponsors

Sen. Jerry Moran (R) sponsors S. 1603, and 3 members have co-sponsored it, all of them from the day it was introduced.

Committees

S. 1603 went before 1 committee: Finance.

Finance
Finance
Referred To · May 6, 2025 · 902 Bills

Actions

S. 1603 has taken 2 actions since May 6, 2025.

ChamberAction
May 6, 2025
Senate
Read twice and referred to the Committee on Finance.Finance Committee
May 6, 2025
—
Introduced in Senate

Votes

S. 1603 has not gone to a roll call.

Titles

S. 1603 goes by 3 titles, 1 of them short titles.

  • Preserving Rural Housing Investments Act — Display Title
  • Preserving Rural Housing Investments Act — Short Title(s) as Introduced
  • A bill to amend the Internal Revenue Code of 1986 to clarify the tax-exempt controlled entity rules with respect to certain stock of government-sponsored enterprises. — Official Title as Introduced

Lobbying

2 clients hired 2 firms and 7 registered lobbyists who named S. 1603 in 6 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Financial Institutions/Investments/Securities, Housing, Taxation/Internal Revenue Code, Economics/Economic Development, Banking, Budget/Appropriations, Computer Industry, Environment/Superfund.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
MIDWEST HOUSING EQUITY GROUP, INC.—Nebraska15—
MORTGAGE BANKERS ASSOCIATION—District of Columbia11—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
MIDWEST HOUSING EQUITY GROUP, INC.15—
MORTGAGE BANKERS ASSOCIATION11—

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
JOSHUA YUREK115
GEORGE ROGERS111
GORDON MILLS111
JEREMY GREEN111
MADISYN RHONE111
RACHEL KELLEY111
WILLIAM KILLMER111

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
MORTGAGE BANKERS ASSOCIATIONMORTGAGE BANKERS ASSOCIATION2026 second_quarter$1.2M2nd Quarter - Report
MIDWEST HOUSING EQUITY GROUP, INC.MIDWEST HOUSING EQUITY GROUP, INC.2026 second_quarter$50K2nd Quarter - Report
MIDWEST HOUSING EQUITY GROUP, INC.MIDWEST HOUSING EQUITY GROUP, INC.2025 second_quarter$50K2nd Quarter - Report
MIDWEST HOUSING EQUITY GROUP, INC.MIDWEST HOUSING EQUITY GROUP, INC.2026 first_quarter$40K1st Quarter - Report
MIDWEST HOUSING EQUITY GROUP, INC.MIDWEST HOUSING EQUITY GROUP, INC.2025 third_quarter$40K3rd Quarter - Report
MIDWEST HOUSING EQUITY GROUP, INC.MIDWEST HOUSING EQUITY GROUP, INC.2025 fourth_quarter$30K4th Quarter - Report

Classification

The Congressional Research Service files S. 1603 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 1603’s is Taxation.

s1603/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Source: congress.gov · legiscan.com