GovTrack’s Bill Summary
We don’t have a summary available yet.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
Buy-American Investment Incentive Act - Amends the Internal Revenue Code to allow an incremental investment credit in an amount equal to ten percent of the excess of the aggregate bases of qualified investment credit properties placed in service over 80 percent of the base amount. Excludes: (1) property if completed outside the United States or if less than 75 percent of the basis of the property is attributable to value added within the United States; and (2) passenger automobiles and office furnishings. Establishes formulas for determining the base amount. Makes the incremental investment credit inapplicable to any property to which the energy or rehabilitation credit would apply unless the taxpayer waives the application of such credits. Establishes special rules for the incremental investment credit in relation to limitations based on the amount of tax. Applies such limitations and provisions concerning carryback and carryforward of unused credits separately, in the case of a C corporation: (1) first with respect to the credit allowed as is not attributable to the incremental investment credit; and (2) then with respect to such credit. Limits the credit, in lieu of current limitations, to the net chapter 1 tax.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.