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S. 2761: Heartland Investment and Rural Employment (HIRE) Act

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S. 2761: Heartland Investment and Rural Employment (HIRE) Act

108th Congress · introduced 2004-07-22 · Taxation · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2004-07-22 · official record
  2. Who proposed it: Sen. Grassley, Chuck [R-IA] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Heartland Investment and Rural Employment (HIRE) Act

Plain summary

Heartland Investment and Rural Employment (HIRE) Act - Amends the Internal Revenue Code to revise provisions relating to agricultural cooperatives (Subchapter T), including concerning marketing rules, declaratory judgment relief, treatment of dividends on cooperative stock, and apportionment of credits among patrons of such cooperatives. Establishes a Subchapter T Commission to study the provisions of such Subchapter and make recommendations for change. Revises provisions relating to the self-employment income of farmers and other small business owners, including provisions relating to agricultural bonds, income averaging, involuntary conversions of livestock, and rules relating to Subchapter S corporations and subsidiaries. Allows individuals (currently limited to C corporations) a tax deduction for charitable contributions of food. Allows taxpayers engaged in a farming or commercial fishing business a tax deduction for contributions to a Farm, Fishing and Ranch Risk Management Account (FFARRM Account). Repeals occupational taxes on producers and marketers of alcoholic beverages. Enacts or amends provisions relating to investment in rural areas, allowing for a rural investment tax credit and a rural small business investment credit. Allows for the expansion of renewal community areas based on 2000 census data. Enacts or amends provisions relating to Indian tribal governments and reservations, including a new markets tax credit for Native American reservations, modifications of the authority of Indian tribal governments to issue tax-exempt bonds, and a tax credit for investment in tribal school modernization bonds. Allows a tax credit for the purchase of a residence in rural areas, Indian reservations, or areas of chronic economic distress.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Heartland Investment and Rural Employment (HIRE) Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Grassley, Chuck [R-IA] · 6 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Sen. Grassley, Chuck [R-IA] reported raising $527,998 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)
Bond
A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.
Rulemaking
The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong108-s2761 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108