S. 584 · 110th Congress
Community Restoration and Revitalization Act of 2007
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
LincolnSponsor11 cosponsors · 6 D, 3 R, 2 I
D
Landrieu
GS
R
Smith
JL
I
Lieberman
WA
R
Allard
KH
R
Hutchison
MP
D
Pryor
PL
D
Leahy
TJ
D
Johnson
BS
I
Sanders
RD
D
Durbin
HC
D
Clinton2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Community Restoration and Revitalization Act of 2007 - Amends the Internal Revenue Code to: (1) allow an increased rehabilitation tax credit for certain low-income buildings; (2) allow a basis reduction adjustment for property eligible for the credit; (3) increase the credit for certain smaller buildings; (4) allow property eligible for the credit to be…
What it does: CRS summary · Introduced in Senate · Feb 14, 2007
Community Restoration and Revitalization Act of 2007 - Amends the Internal Revenue Code to: (1) allow an increased rehabilitation tax credit for certain low-income buildings; (2) allow a basis reduction adjustment for property eligible for the credit; (3) increase the credit for certain smaller buildings; (4) allow property eligible for the credit to be used for lodging purposes; (5) modify placed-in-service rules for credit property; (6) modify qualification rules for credit property that is tax-exempt use property; (7) increase the credit for buildings in high cost areas; and (8) exempt certain condominium transactions from rehabilitation tax credit recapture requirements.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Community Restoration and Revitalization Act of 2007
Latest action (Feb 14, 2007): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Feb 14, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.