H.R. 2138 (104th): Commercial Revitalization Tax Act of 1995

Introduced:
Jul 28, 1995 (104th Congress, 1995–1996)
Status:
Died (Referred to Committee)
See Instead:

H.R. 2163 (same title)
Referred to Committee — Aug 02, 1995

Sponsor
Philip “Phil” English
Representative for Pennsylvania's 21st congressional district
Party
Republican
Text
Read Text »
Last Updated
Jul 28, 1995
Length
14 pages
Related Bills
H.R. 465 (105th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Jan 21, 1997

H.R. 2163 (identical)

Referred to Committee
Last Action: Aug 02, 1995

 
Status

This bill was introduced on July 28, 1995, in a previous session of Congress, but was not enacted.

Progress
Introduced Jul 28, 1995
Referred to Committee Jul 28, 1995
 
Full 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.

Summary

No summaries available.

Cosponsors
46 cosponsors (24R, 21D, 1I) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

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.


7/28/1995--Introduced.
Commercial Revitalization Tax Act of 1995 - 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.

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

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