Commercial Revitalization Tax Act of 1995

Summary

Commercial Revitalization Tax Act of 1995 - Amends the Internal Revenue Code to allow an investment tax credit equal to a percentage of expenditures for depreciable property in connection with the rehabilitation or reconstruction of a nonresidential building located in: (1) an empowerment zone or enterprise community; (2) an area established pursuant to a consolidated planning process for the use of Federal housing and community development funds; or (3) a low-income commercial revitalization district specially designated by a State or local government which is not primarily a nonresidential central business district. Requires, for qualification of such expenditures, that they exceed 25 percent of the fair market value of the building before rehabilitation. Imposes a State ceiling on the availability of the credit.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 21 July 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 21 July 1995

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• Introduced in House

  summary · EN · 21 July 1995

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