legislation: 111-hr-5943

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
111-hr-5943 111 hr 5943 CRE Act of 2010 Taxation 2010-07-29 2010-07-29 Referred to the House Committee on Ways and Means. House Rep. Berkley, Shelley [D-NV-1] NV D B001231 2 Community Recovery and Enhancement Act of 2010 or the CRE Act of 2010 - Amends the Internal Revenue Code to allow a new tax deduction for 50% of equity investment in a partnership (qualified debt reduction equity investment) and 50% of any payment on commercial real property (qualified debt reduction payment) made to reduce the principal amount of the qualified indebtedness of such partnership or commercial property. Defines "qualified indebtedness" to mean any indebtedness incurred or assumed by a partnership or other taxpayer before January 1, 2009, which is secured by commercial real property. Requires a recapture in income of any deduction taken by a partnership if such partnership incurs additional indebtedness within three years after receiving a qualified debt reduction equity investment under this Act. 2023-01-11T13:21:50Z  

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