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HR 465 105th Congress House

Commercial Revitalization Tax Act of 1997

Official title: To amend the Internal Revenue Code of 1986 to provide a tax credit for investment necessary to revitalize communities within the United States, and for other purposes.

Introduced: March 3, 1998 See on congress.gov
Taxation Building constructionBuildingsBusiness income taxCommerce
More subjectsShow fewer subjects
Depreciation and amortizationDepressed areasEconomics and Public FinanceEnterprise zonesFederal aid to community developmentFederal aid to housingHousing and Community DevelopmentIncome taxIndustrial buildingsInvestment tax creditPersonal income taxUrban affairs
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) 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
Jan 21, 1997
Referred to the House Committee on Ways and Means.
Jan 21, 1997
Introduced in House
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 Latest action January 21, 1997

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Commercial Revitalization Tax Act of 1997 - Amends the Internal Revenue Code to allow an investment tax credit equal to a percentage of expenditures for depreciable property in connection with the rehabilitation or reconstruction of a nonresidential building located in: (1) an empowerment zone or enterprise community; (2) an area established pursuant to a consolidated planning process for the use of Federal housing and community development funds; or (3) a low-income commercial revitalization district specially designated by a State or local government which is not primarily a nonresidential central business district. Requires, for qualification of such expenditures, that they exceed 25 percent of the fair market value of the building before rehabilitation.

Imposes a State ceiling on the availability of the credit.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Democratic 2 Republican 2
LAMPSON, NICK
· Mar 3, 1998
 D
Neal, Richard E.
Massachusetts · Apr 24, 1997
 R
Calvert, Ken
California · Apr 15, 1997
 D
Clyburn, James E.
South Carolina · Apr 15, 1997
 R
Graham, Lindsey
South Carolina · Jan 21, 1997
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 465: Commercial Revitalization Tax Act of 1997. 105th Congress. Open America. https://openamerica.io/bill/105-HR-465/
MLA
"H.R. 465: Commercial Revitalization Tax Act of 1997." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-465/.
Bluebook (legal)
H.R. 465, 105th Cong. (2026), https://openamerica.io/bill/105-HR-465/.
Markdown link
[H.R. 465: Commercial Revitalization Tax Act of 1997](https://openamerica.io/bill/105-HR-465/)
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