Economic Redevelopment Area Tax Incentive Act of 1980

Economic Redevelopment Area Tax Incentive Act of 1980 - Amends the Internal Revenue Code to extend investment tax credit treatment to qualified redevelopment property. Defines "qualified redevelopment property" as depreciable business property which is located in geographic areas which have been identified by the Secretary of Labor as having persistently high rates of unemployment. Sets the rate of such investment tax credit at 12 percent.