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.

3.0.0 4112 2023-01-11T20:16:20Z 2023-01-11T20:16:20Z House H HR 2007-11-07 110 hswm00 Ways and Means Committee House Standing Referred to 2007-11-07T15:02:25Z 2007-11-07 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-11-07 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-11-07 Introduced in House IntroReferral 1000 9 Library of Congress W000784 Rep. Wynn, Albert Russell [D-MD-4] ALBERT WYNN D MD R. 4 N Taxation Commerce Depreciation and amortization Housing and Community Development Income tax Losses Low-income housing Rental housing Social Welfare Tax credits Tax deductions Taxation

00 2007-11-07 Introduced in House 2007-12-04T15:36:20Z 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.

]]>

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. Official Title as Introduced 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. Introduced in House IH Display Title 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. Introduced in House 2007-11-07T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr4112ih/xml/BILLS-110hr4112ih.xml 2007-11-07 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.