HR 1428
112th Congress
House
Taxation
Business investment and capital
Capital gains tax
Employment and training programs
Income tax credits
Income tax deductions
Income tax rates
Industrial facilities
Rural conditions and development
Urban and suburban affairs and development
To amend the Internal Revenue Code of 1986 to extend the Renewal Community program through end of 2012.
Introduced: April 7, 2011
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 7, 2011
Referred to the House Committee on Ways and Means.
Apr 7, 2011
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to extend through December 31, 2012, the designation period of areas as renewal communities and tax incentives for investment in such areas, including: (1) the exclusion from gross income for income tax purposes of gain from the sale or exchange of assets (stock or business property) in such areas, (2) the tax deduction for commercial revitalization expenditures in such areas, and (3) an increased expensing allowance for the acquisition of business and investment assets in such areas.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1