H.R. 13060 (94th): High Unemployment Area Tax Relief Act

Introduced:
Apr 06, 1976 (94th Congress, 1975–1976)
Status:
Died (Referred to Committee)
Sponsor
Richard Vander Veen
Representative for Michigan's 5th congressional district
Party
Democrat
 
Status

This bill was introduced on April 6, 1976, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 06, 1976
Referred to Committee Apr 06, 1976
 
Full Title

A bill to encourage plant expansion and construction or renovation of facilities in metropolitan areas suffering from chronic high unemployment by providing more rapid amortization for plants and equipment located in such areas.

Summary

No summaries available.

Cosponsors
none
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)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

Widget

Get a bill status widget for your website »

Citation

Click a format for a citation suggestion:

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.


4/6/1976--Introduced.
High Unemployment Area Tax Relief Act - Authorizes a taxpayer, under the Internal Revenue Code, to elect to take a tax deduction with respect to the amortization of the eligible amortizable basis of qualifying equipment based on a period of 60 months.
Entitles such taxpayer to elect to take a tax deduction with respect to the amortization of the eligible amortizable basis of any qualifying facility based on a period equal to the lesser of one-half of the useful life of the facility or 120 months.
Defines a qualifying facility as a structure which is subject to depreciation, which is located in a high unemployment area, and which constitutes a new facility, a distinct addition to an existing facility, or a substantial renovation of an existing facility.
Defines qualifying equipment as specified depreciable property which when placed in service is located in a qualifying facility.
Prohibits such election if the relocation of the qualifying facility or equipment resulted in a decrease in employment at the original location.
Makes technical and conforming amendments.

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.

Use the comment space below for discussion of the merits of H.R. 13060 (94th) with other GovTrack users.
Your comments are not read by Congressional staff.

comments powered by Disqus