Economic Redevelopment Area Tax Incentive Act

Summary

Economic Redevelopment Area Tax Incentive Act - Amends the Internal Revenue Code to allow an additional five percent investment tax credit for new, depreciable business property placed in high unemployment urban areas. Increases the maximum investment credit allowable to 90 percent of income tax liability exceeding $25,000. Allows employers a limited income tax credit for a portion of the wages paid to certain new employees for services in high unemployment urban areas.

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Timeline

1. 21 February 1978

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 21 February 1978

   Introduced

   Introduced in House

   Source: IntroReferral

3. 21 February 1978

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 21 February 1978

  Open at official source

Sponsors

• Rep. Ruppe, Philip E. [R-MI-11] · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← Economic Redevelopment Area Tax Incentive Act