Residential Rental Housing Tax Incentive Act of 1981

Summary

Residential Rental Housing Tax Incentive Act of 1981 - Amends the Internal Revenue Code to allow a taxpayer to elect to depreciate residential rental property under the straight line method based on a period of 120 months if the original use of such property begins with the taxpayer or 240 months in any other case. Exempts residential property, residential rental property, and low-income housing from the requirement that construction period interest and taxes related to such property be amortized instead of deducted currently. Expands eligibility for accelerated depreciation of rehabilitation expenditures for all types of rental housing, not just low-income rental rehabilitation expenditures. Increases the eligible amount of depreciable low-income housing rehabilitation expenditures to $30,000. Eliminates provision for recapture of depreciation for rehabilitation expenditures.

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Timeline

1. 3 February 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 3 February 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 February 1981

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 3 February 1981

  Open at official source

Sponsors

• Rep. Frenzel, Bill [R-MN-3] · R · Sponsor
• Rep. Archer, Bill [R-TX-7] · R · Sponsor
• Rep. Kramer, Ken [R-CO-5] · R · Sponsor
• Rep. Forsythe, Edwin B. [R-NJ-6] · R · Sponsor
• Rep. Martin, James G. [R-NC-9] · R · Sponsor
• Rep. McKinney, Stewart B. [R-CT-4] · R · Sponsor
• Rep. Whitehurst, G. William [R-VA-2] · R · Sponsor
• Rep. Winn, Larry, Jr. [R-KS-3] · R · Sponsor
• Rep. Sabo, Martin Olav [D-MN-5] · D · Sponsor
• Rep. Coyne, James K. [R-PA-8] · R · Cosponsor
• Rep. Panetta, Leon [D-CA-16] · D · Cosponsor
• Rep. Beard, Robin [R-TN-6] · R · Cosponsor
• Rep. Evans, Thomas B., Jr. [R-DE-At Large] · R · Cosponsor
• Rep. Burgener, Clair W. [R-CA-43] · R · Cosponsor
• Rep. Bonker, Don [D-WA-3] · D · Cosponsor
• Rep. LeBoutillier, John [R-NY-6] · R · Cosponsor
• Rep. Ferraro, Geraldine A. [D-NY-9] · D · Cosponsor
• Rep. Ireland, Andrew P. [R-FL-10] · D · Cosponsor
• · hswm00 · Standing

Related records

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