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United States · Bill · HR

H.R. 465 (105th)

Commercial Revitalization Tax Act of 1997

referredUnited States· United States Congress· EN

Introduced

21 January 1997

Last action

21 January 1997 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. English, Phil [R-PA-3], Rep. Saxton, Jim [R-NJ-3], Rep. Rahall, Nick J., II [D-WV-3], Sen. Graham, Lindsey [R-SC], Rep. Frost, Martin [D-TX-24], Rep. Serrano, Jose E. [D-NY-15], Rep. Hinojosa, Ruben [D-TX-15], Rep. Woolsey, Lynn C. [D-CA-6], Rep. Wynn, Albert Russell [D-MD-4], Rep. Granger, Kay [R-TX-12], Rep. Moran, James P. [D-VA-8], Rep. Goodling, William F. [R-PA-19], Rep. Filner, Bob [D-CA-51], Rep. Bentsen, Ken [D-TX-25], Rep. Lowey, Nita M. [D-NY-17], Rep. Clyburn, James E. [D-SC-6], Rep. Bachus, Spencer [R-AL-6], Rep. Flake, Floyd H. [D-NY-6], Rep. Calvert, Ken [R-CA-41], Rep. Weygand, Robert A. [D-RI-2], Rep. Boehlert, Sherwood [R-NY-24], Rep. Neal, Richard E. [D-MA-1], Sen. Burr, Richard [R-NC], Rep. Borski, Robert A. [D-PA-3], Rep. Houghton, Amo [R-NY-31], Rep. Weller, Jerry [R-IL-11], Rep. Lewis, John [D-GA-5], Rep. Quinn, Jack [R-NY-27], Rep. Bliley, Tom [R-VA-7], Rep. Lampson, Nick [D-TX-22], Rep. Pickett, Owen B. [D-VA-2], Rep. Pappas, Michael [R-NJ-12], Rep. Price, David E. [D-NC-4], Rep. Sandlin, Max [D-TX-1], Rep. Snyder, Vic [D-AR-2], Rep. Thurman, Karen L. [D-FL-5], Rep. Mollohan, Alan B. [D-WV-1]

Subjects

Housing, Taxation

Source updated

21 August 2025

Housing · Taxation

Official sourceDownload fileView documentsShare

Summary

Commercial Revitalization Tax Act of 1997 - 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.

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

Timeline

  1. 21 January 1997

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 21 January 1997

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 21 January 1997

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 21 January 1997

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  • Introduced in House (PDF)

    Introduced in House · EN · 21 January 1997

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  • Introduced in House

    summary · EN · 21 January 1997

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Sponsors

Related records

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Sources

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