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HR 4135 102th Congress House Taxation Bank failures Finance and Financial Sector Income tax Investment tax credit Manufacturing industries Savings and loan associations

To amend the Internal Revenue Code of 1986 to provide a temporary investment tax credit for investments in certain productive equipment.

Introduced: January 28, 1992 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 28, 1992
Referred to the House Committee on Ways and Means.
Jan 28, 1992
Introduced in House
 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow a new productive equipment credit for investment in qualified productive property for the period after December 31, 1991, and before January 1, 1996. Makes imported property and property used in mining extraction and timber harvesting ineligible for such credit.

Allows such credit for qualified failed thrift property acquired from the Federal Deposit Insurance Corporation (FDIC) or the Resolution Trust Corporation (RTC). Denies such credit to any officer, director, substantial shareholder, or owner of depository institutions acquired by the FDIC or the RTC. Requires a portion of the gain on the resale, exchange, or other disposition of such property to be paid to the FDIC or the RTC.

What's happening now January 28, 1992

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1