legislation: 96-hr-8290

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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
96-hr-8290 96 hr 8290 Residential Rental Housing Tax Incentive Act of 1980 Housing and Community Development 1980-10-02 1980-10-02 Referred to House Committee on Ways and Means. House Rep. Gonzalez, Henry B. [D-TX-20] TX D G000272 0 Residential Rental Housing Tax Incentive Act of 1980 - Amends the Internal Revenue Code to allow a taxpayer election to depreciate new: (1) residential rental property under the straight line method based on a period of 120 months; and (2) low-income rental housing, under the same method, based on a period of 96 months. Exempts residential property, residential rental property, and low-income housing from the requirement that construction period interest and taxes related to such property be amortized instead of deducted currently. Expands eligibility for accelerated depreciation of rehabilitation expenditures for all types of rental housing, not just low-income rental housing. Increases the amount of depreciable low-income rental housing rehabilitation expenditures to $30,000. 2025-09-02T13:55:06Z  

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