Asset Disposition and Revitalization Credit Act of 1991

Summary

Asset Disposition and Revitalization Credit Act of 1991 - Amends the Internal Revenue Code to establish a general business tax credit for property purchased from the Resolution Trust Corporation (RTC) based upon an applicable percentage of the qualified basis of such property. Allows the determination of such credit for the year in which the property is acquired and the four years thereafter. Limits the aggregate credit amount to $1,000,000,000. Sets forth restrictions on the use of such credit. Limits such credit to property purchased from the RTC after December 31, 1991, and before January 1, 1994, or after December 31, 1993, pursuant to a binding contract in effect on such date. Allows such credit against the regular tax and the alternative minimum tax. Excepts such credit from passive loss restrictions.

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2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 1 October 1991

  Open at official source

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