H.R. 1428 · 112th Congress
To amend the Internal Revenue Code of 1986 to extend the Renewal Community program through end of 2012.
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
HigginsSponsor7 cosponsors · 7 D
6 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to extend through December 31, 2012, the designation period of areas as renewal communities and tax incentives for investment in such areas, including: (1) the exclusion from gross income for income tax purposes of gain from the sale or exchange of assets (stock or business property) in such areas, (2) the tax deduction for…
What it does: CRS summary · Introduced in House · Apr 7, 2011
Amends the Internal Revenue Code to extend through December 31, 2012, the designation period of areas as renewal communities and tax incentives for investment in such areas, including: (1) the exclusion from gross income for income tax purposes of gain from the sale or exchange of assets (stock or business property) in such areas, (2) the tax deduction for commercial revitalization expenditures in such areas, and (3) an increased expensing allowance for the acquisition of business and investment assets in such areas.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to extend the Renewal Community program through end of 2012.
Latest action (Apr 7, 2011): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Apr 7, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.