A bill to amend the Internal Revenue Code of 1986 to provide tax incentives to encourage the preservation of low-income housing.
Low-Income Housing Preservation Act of 1995 - Amends the Internal Revenue Code to provide a 15-year recovery period for the depreciation deduction for new investments to rehabilitate qualified low-income housing projects. Exempts $50,000 ($25,000 in the case of a separate return by a married individual) of such rehabilitation costs from the passive loss limitations.
Provides a special rule for computing the depreciation deduction for such housing projects.
Committee Hearings Held.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S2134)
Read twice and referred to the Committee on Finance.
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