HR 796
101th Congress
House
Taxation
Accounting
Business losses
Housing and Community Development
Housing finance
Income tax
Investment tax credit
Investments
Low-income housing
Residential rehabilitation
Tax credits
Community Revitalization Tax Act of 1989
Introduced: February 2, 1989
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 2, 1989
Referred to the House Committee on Ways and Means.
Feb 2, 1989
Introduced in House
Plain-English summary
Community Revitalization Tax Act of 1989 - Amends Internal Revenue Code income tax accounting rules to treat rehabilitation investment credits and low-income housing credits as credits not derived from passive activities.
Revises the limitation on the general business credit to allow a maximum annual credit equal to the first $20,000 of an individual taxpayer's income tax liability plus 80 percent of any excess liability.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1