HR 1102
105th Congress
House
Taxation
Accounting
Business income tax
Business losses
Commerce
Depreciation and amortization
Finance and Financial Sector
Housing and Community Development
Income tax
Low-income housing
Minimum tax
Real estate business
Rental housing
Residential rehabilitation
Social Welfare
Tax credits
Tax deductions
Low-Income Housing Preservation Act of 1997
Introduced: March 18, 1997
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 18, 1997
Referred to the House Committee on Ways and Means.
Mar 18, 1997
Introduced in House
Plain-English summary
Low-Income Housing Preservation Act of 1997 - Amends the Internal Revenue Code to provide a 15-year recovery period for the depreciation deduction for new investments to rehabilitate qualified low-income housing projects. Exempts $50,000 ($25,000 in the case of a separate return by a married individual) of such rehabilitation costs from the passive loss limitations.
Provides a special rule for computing the depreciation deduction for such housing projects.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1