United States · Bill · S
S. 1593 (98th)
Work Opportunities and Renewed Competition Act of 1983
Introduced
29 June 1983
Last action
—
Status
Committee on Finance requested executive comment from OMB, Treasury Department.
Sponsors
—
Subjects
Discovery layer
Source updated
29 August 2025
Summary
Work Opportunities and Renewed Competition Act of 1983 - Amends the Internal Revenue Code to allow a taxpayer to elect to treat an excess investment tax credit as a reinvestment tax credit. Requires a taxpayer to forfeit any investment tax credit carryover if the taxpayer elects to take a reinvestment tax credit. Sets the amount of such reinvestment tax credit at 85 percent of the taxpayer's qualified investment in reinvestment credit property. Terminates such credit after 1984. Makes such reinvestment tax credit refundable. Requires the recapture of the reinvestment tax credit under specified circumstances. Sets forth rules relating to such recapture.
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 29 June 1983
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/98th-congress/senate-bill/1593
- Open data entity: https://api.congress.gov/v3/bill/98/s/1593