To amend the Internal Revenue Code of 1986 to deny certain tax benefits in the case of buildings constructed with Japanese services.

Summary

Amends the Internal Revenue Code to: (1) defer the deduction for depreciation and amortization with respect to any Japanese-constructed building for ten years; (2) defer the recognition of any loss with respect to such building for 15 years; and (3) deny the use of tax-exempt bonds to provide Japanese-constructed facilities. Defines "Japanese-constructed building" as a building of which one percent or more of the cost is attributable to services performed by Japanese persons.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 1 July 1993

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• Introduced in House (PDF)

  Introduced in House · EN · 1 July 1993

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• Introduced in House

  summary · EN · 1 July 1993

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