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.

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

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in House

  summary · EN · 20 May 1981

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.