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United States · Bill · HR

H.R. 2051 (100th)

A bill to amend the Internal Revenue Code of 1986 to allow individuals a credit against income tax for the purchase and installation of locks and other security devices on residences.

referredUnited States· United States Congress· EN

Introduced

9 April 1987

Last action

9 April 1987 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Dreier, David [R-CA-26], Rep. Dornan, Robert K. [R-CA-46], Rep. Lagomarsino, Robert J. [R-CA-19], Rep. Stokes, Louis [D-OH-11], Rep. Robinson, Tommy F. [D-AR-2], Rep. Weiss, Ted [D-NY-17], Rep. Fields, Jack [R-TX-8], Rep. Packard, Ron [R-CA-48], Rep. Smith, Denny [R-OR-5], Rep. Collins, Cardiss [D-IL-7], Rep. Sawyer, Tom [D-OH-14], Rep. Hastert, J. Dennis [R-IL-14], Rep. Conyers, John, Jr. [D-MI-13], Rep. Foglietta, Thomas M. [D-PA-1], Sen. Inhofe, James M. [R-OK], Rep. Gallegly, Elton [R-CA-24], Rep. Saiki, Patricia [R-HI-1], Rep. Davis, Robert W. [R-MI-11], Rep. McGrath, Raymond J. [R-NY-5], Rep. McCrery, Jim [R-LA-4]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to allow an individual a nonrefundable income tax credit equal to 25 percent of the amount of expenses paid or incurred during the taxable year for new security devices for the taxpayer's residence, including: (1) a lock or alarm for a door or window; (2) security lighting; (3) protective window and door bars; and (4) an electronic alarm system. Permits a maximum credit of $175. Provides that the tax credit shall be 100 percent of such expenses for individuals who have attained the age of 65 before the close of the taxable year. Provides that when the basis of property is increased as a result of an expenditure for security devices, the taxpayer must reduce such property's basis by the amount of the allowed credit. Disallows a credit when the property is eligible for the investment credit.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 9 April 1987

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 9 April 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 9 April 1987

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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