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S 342 101th Congress Senate 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
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This bill died when the 101st Congress ended
It never became law before the 101st Congress (1989–1990) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 2, 1989
Read twice and referred to the Committee on Finance.
Feb 2, 1989
Introduced in Senate
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 Plain-English summary Congressional Research Service

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 February 2, 1989

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 796 Identical bill Community Revitalization Tax Act of 1989
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Mar 6, 1989
Cite this page click to expand
APA
U.S. Congress. (2026). S. 342: Community Revitalization Tax Act of 1989. 101st Congress. Open America. https://openamerica.io/bill/101-S-342/
MLA
"S. 342: Community Revitalization Tax Act of 1989." 101st Congress, 2026, Open America, https://openamerica.io/bill/101-S-342/.
Bluebook (legal)
S. 342, 101st Cong. (2026), https://openamerica.io/bill/101-S-342/.
Markdown link
[S. 342: Community Revitalization Tax Act of 1989](https://openamerica.io/bill/101-S-342/)
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