Business Tax Reform Act of 1982

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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Timeline

1. 16 June 1982

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 16 June 1982

   Introduced

   Introduced in House

   Source: IntroReferral

3. 16 June 1982

   Introduced

   Introduced in House

   Source: IntroReferral

4. 19 August 1982

   Committee

   See H.R.4961.

   Source: Committee

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 · 16 June 1982

  Open at official source

Sponsors

• Rep. Shannon, James M. [D-MA-5] · D · Sponsor
• Rep. Matsui, Robert T. [D-CA-5] · D · Sponsor
• Rep. Beilenson, Anthony C. [D-CA-24] · D · Cosponsor
• Rep. Smith, Joseph F. [D-PA-3] · D · Cosponsor
• Rep. Stokes, Louis [D-OH-11] · D · Cosponsor
• Rep. Minish, Joseph G. [D-NJ-11] · D · Cosponsor
• Rep. Roybal, Edward R. [D-CA-25] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to → Tax Equity and Fiscal Responsibility Act of 1982