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

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

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

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.


No summaries available.


House Ways and Means

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Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

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

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No summary available.

House Democratic Caucus Summary

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