Residential Rental Housing Tax Incentive Act of 1980

Summary

Residential Rental Housing Tax Incentive Act of 1980 - Amends the Internal Revenue Code to allow a taxpayer election to depreciate new residential rental property under the straight line method based on a period of 120 months. Exempts residential property, residential rental property, and low-income housing from the requirement that construction period interest and taxes related to such property be amortized instead of deducted currently. Expands eligibility for accelerated depreciation of rehabilitation expenditures for all types of rental housing, not just low-income rental housing. Increases the amount of depreciable rental housing rehabilitation expenditures to $30,000.

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Timeline

1. 15 September 1980

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 15 September 1980

   Introduced

   Introduced in House

   Source: IntroReferral

3. 15 September 1980

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 15 September 1980

  Open at official source

Sponsors

• Rep. Frenzel, Bill [R-MN-3] · R · Sponsor
• Rep. Emery, David F. [R-ME-1] · R · Cosponsor
• Rep. Pepper, Claude [D-FL-18] · D · Cosponsor
• Rep. Cleveland, James C. [R-NH-2] · R · Cosponsor
• Rep. Carter, Tim Lee [R-KY-5] · R · Cosponsor
• Rep. Forsythe, Edwin B. [R-NJ-6] · R · Cosponsor
• Rep. Nowak, Henry [D-NY-33] · D · Cosponsor
• Rep. Hughes, William J. [D-NJ-2] · D · Cosponsor
• · hswm00 · Standing

Related records

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