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United States · Bill · HR

H.R. 3644 (97th)

A bill to amend the Internal Revenue Code of 1954 to increase to $300,000 the amount of used property eligible for the investment tax credit, and to provide a 3-year carryback and a 7-year carryover of the cost of such property in excess of $300,000.

openUnited States· United States Congress· EN

Introduced

20 May 1981

Last action

4 August 1981 · Committee

Status

See H.R.4242.

Sponsors

Rep. Downey, Thomas J. [D-NY-2], Rep. Frenzel, Bill [R-MN-3], Rep. Gradison, Willis D., Jr. [R-OH-2], Rep. Campbell, Carroll A., Jr. [R-SC-4], Rep. Mitchell, Parren J. [D-MD-7], Rep. Bailey, Donald A. [D-PA-21], Rep. Benjamin, Adam, Jr. [D-IN-1], Rep. Ford, Harold E. [D-TN-9], Rep. Coelho, Anthony Lee [D-CA-15], Rep. Walgren, Doug [D-PA-18], Rep. Wilson, Charles [D-TX-2], Rep. Ottinger, Richard L. [D-NY-20], Rep. Bafalis, L. A. (Skip) [R-FL-10], Rep. Rodino, Peter W., Jr. [D-NJ-10], Rep. Seiberling, John F. [D-OH-14], Rep. Eckart, Dennis E. [D-OH-11], Rep. Ertel, Allen E. [D-PA-17], Rep. Hertel, Dennis M. [D-MI-14], Rep. Panetta, Leon [D-CA-16], Rep. Sawyer, Harold S. [R-MI-5], Rep. Mineta, Norman Y. [D-CA-15], Sen. Mikulski, Barbara A. [D-MD], Sen. Harkin, Tom [D-IA], Rep. Yatron, Gus [D-PA-6], Rep. Lehman, William [D-FL-17], Rep. Wolpe, Howard E. [D-MI-3], Rep. Collins, James M. [R-TX-3], Rep. Erdahl, Arlen [R-MN-1]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to increase from $100,000 to $300,000 the allowable cost of used property eligible for the investment tax credit. Provides for a three-year carryback and a seven-year carryover of amounts which exceed such limitation.

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

Timeline

  1. 20 May 1981

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 20 May 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 20 May 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 4 August 1981

    Committee

    See H.R.4242.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Leesvertaling

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Sponsors

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Sources

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