Surplus School Conversion Act - Entitles taxpayers, under the Internal Revenue Code, to elect to take a deduction with respect to the amortization of any qualified school or hospital property based on a period of 180 months.
Defines qualified school or hospital property to mean any building or other structure which is acquired by the taxpayer from a tax-exempt organization which used such structure to provide facilities for an educational institution or an institution which provided medical or custodial care.
Makes technical and conforming amendments.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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