To amend the Internal Revenue Code of 1986 to extend the Renewal Community program through end of 2012.

Summary

Amends the Internal Revenue Code to extend through December 31, 2012, the designation period of areas as renewal communities and tax incentives for investment in such areas, including: (1) the exclusion from gross income for income tax purposes of gain from the sale or exchange of assets (stock or business property) in such areas, (2) the tax deduction for commercial revitalization expenditures in such areas, and (3) an increased expensing allowance for the acquisition of business and investment assets in such areas.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 April 2011

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• Introduced in House (PDF)

  Introduced in House · EN · 7 April 2011

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• Introduced in House

  summary · EN · 7 April 2011

  Open at official source

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