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United States · Bill · HR

H.R. 6617 (97th)

Business Tax Reform Act of 1982

openUnited States· United States Congress· EN

Introduced

16 June 1982

Last action

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Status

See H.R.4961.

Sponsors

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Subjects

Discovery layer

Source updated

29 August 2025

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Summary

Business Tax Reform Act of 1982 - Amends the Internal Revenue Code to repeal provisions which allow sale and lease back arrangements between corporations. Repeals the increased accelerated cost recovery schedules which were to become effective in 1985. Requires a basis reduction for investment tax credit property equal to the amount of the credit taken. Exempts certified historic structures from such recapture tax. Increases the recovery period for real property depreciation from 15 to 20 years.

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1 official file

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