A bill to amend the Internal Revenue Code of 1954 to provide that the investment tax credit shall not be recaptured in the case of certain transfers by air carriers of aircraft used exclusively to provide air transportation.

referredUnited States· United States Congress· EN

Introduced

17 May 1979

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to exempt an air carrier who sells aircraft to another air carrier from the investment tax credit recapture rules with respect to such aircraft, unless the aircraft ceases to be used exclusively to provide air transportation. Provides that the provisions of this Act shall apply to the sale or exchange of aircraft occurring after December 31, 1977, and before January 1, 1985.

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Documents

1 official file

Introduced in House
summary · EN · 17 May 1979
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/96th-congress/house-bill/4133
Open data entity: https://api.congress.gov/v3/bill/96/hr/4133