Gulf Opportunity Zone Act of 2005
Sponsor: JIM MCCRERY (R-LA)
Gulf Opportunity Zone Act of 2005 - Title I: Establishment of Gulf Opportunity Zone - (Sec. 101) Amends the Internal Revenue Code to establish a program of tax benefits for businesses and individuals affected by Hurricane Katrina by creating a Gulf Opportunity Zone (or GO Zone). Provides similar tax benefits for businesses and individuals affected by Hurricanes Rita and Wilma and establishes a Rita GO Zone and a Wilma GO Zone to provide tax relief to hurricane victims in those disaster areas. Authorizes the states of Alabama, Louisiana, and Mississippi to issue Gulf Opportunity Zone bonds as tax-exempt facility bonds or qualified mortgage bonds.
Taxation Topic assigned by the Congressional Research Service. CRS gives each bill one topic, based on the bill as introduced. This one carries 134 subject terms, so it spans well beyond that single label.
Who won, and how much of the country was behind them
The dotted gap is 3.7% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 415 | 95.2% |
| Nay | Lost | 4 | 1.0% |
| Not represented on this question | No position taken | 0 | 3.7% |