To amend the Internal Revenue Code of 1986 to establish a 15-year recovery period for depreciation of designated low-income buildings and to allow passive losses and credits attributable to qualified low-income buildings.

Fact Sheet API

Bill Number

HR 4112

Introduced

Nov 7, 2007

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Commerce Depreciation and amortization Housing and Community Development Income tax Losses Low-income housing Rental housing Social Welfare Tax credits Tax deductions Taxation

Full Text

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Votes

Summary

Amends the Internal Revenue Code to: (1) allow a 15-year recovery period for depreciation of designated low-income buildings eligible for the low-income housing tax credit; and (2) waive limitations on passive activity losses and credits for such buildings.

Actions

Nov 7, 2007

Referred to the House Committee on Ways and Means.
Nov 7, 2007

Introduced in House

Amendments

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