S 584
110th Congress
Senate
Taxation
Building construction
Collection of accounts
Commemorations
Commerce
Condominium (Housing)
Depressed areas
Economics and Public Finance
Historic sites
History
Housing and Community Development
Income tax
Investment tax credit
Leases
Low-income housing
Maintenance and repair
Office buildings
Rental housing
Residential rehabilitation
Tax credits
Community Restoration and Revitalization Act of 2007
Introduced: February 14, 2007
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 14, 2007
Read twice and referred to the Committee on Finance.
Feb 14, 2007
Introduced in Senate
Plain-English summary
Community Restoration and Revitalization Act of 2007 - Amends the Internal Revenue Code to: (1) allow an increased rehabilitation tax credit for certain low-income buildings; (2) allow a basis reduction adjustment for property eligible for the credit; (3) increase the credit for certain smaller buildings; (4) allow property eligible for the credit to be used for lodging purposes; (5) modify placed-in-service rules for credit property; (6) modify qualification rules for credit property that is tax-exempt use property; (7) increase the credit for buildings in high cost areas; and (8) exempt certain condominium transactions from rehabilitation tax credit recapture requirements.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1