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HR 3434 98th Congress House

Work Opportunities and Renewed Competition Act of 1983

Official title: A bill to amend the Internal Revenue Code of 1954 to facilitate industrial revitalization and employment by improving the efficiency of the investment tax credit.

Introduced: March 21, 1984 See on congress.gov
Taxation Income taxInvestment tax creditTax credits
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This bill died when the 98th Congress ended
It never became law before the 98th Congress (1983–1984) 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
Jun 28, 1983
Referred to House Committee on Ways and Means.
Jun 28, 1983
Introduced in House
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 Latest action June 28, 1983

Referred to House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Work Opportunities and Renewed Competition Act of 1983 - Amends the Internal Revenue Code to allow a taxpayer to elect to treat an excess investment tax credit as a reinvestment tax credit. Requires a taxpayer to forfeit any investment tax credit carryover if the taxpayer elects to take a reinvestment tax credit.

Sets the amount of such reinvestment tax credit at 85 percent of the taxpayer's qualified investment in reinvestment credit property. Terminates such credit after 1984. Makes such reinvestment tax credit refundable.

Requires the recapture of the reinvestment tax credit under specified circumstances. Sets forth rules relating to such recapture.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 1
R
Smith, Christopher H.
New Jersey · Mar 21, 1984
FROST, MARTIN
· Aug 4, 1983
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3434: Work Opportunities and Renewed Competition Act of 1983. 98th Congress. Open America. https://openamerica.io/bill/98-HR-3434/
MLA
"H.R. 3434: Work Opportunities and Renewed Competition Act of 1983." 98th Congress, 2026, Open America, https://openamerica.io/bill/98-HR-3434/.
Bluebook (legal)
H.R. 3434, 98th Cong. (2026), https://openamerica.io/bill/98-HR-3434/.
Markdown link
[H.R. 3434: Work Opportunities and Renewed Competition Act of 1983](https://openamerica.io/bill/98-HR-3434/)
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