A bill to amend the Internal Revenue Code of 1954 to repeal the special leasing rules added by the Economic Recovery Tax Act of 1981 which permit transfers of tax benefits, and for other purposes.

referredUnited States· United States Congress· EN

Introduced

16 December 1981

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to repeal the special rules for the leasing of depreciable business property between corporations. Allows the election of a 20-percent refundable investment tax credit in lieu of depreciation for certain companies that have a net operating loss for the taxable year.

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Versions

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Documents

1 official file

Introduced in House
summary · EN · 16 December 1981
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/house-bill/5305
Open data entity: https://api.congress.gov/v3/bill/97/hr/5305