A bill to amend the Internal Revenue Code of 1954 to extend the cutoff date for qualification of low-income housing rehabilitation expenditures for the 5-year depreciation privilege provided by section 167(k).

Extends, from January 1, 1975, to January 1, 1980, the cutoff date for qualification of low-income housing rehabilitation expenditures for the five-year depreciation privilege provided under the Internal Revenue Code.