Amends the Internal Revenue Code to provide that restrictions on the allowance for depreciation and the investment tax credit for property leased by a tax-exempt entity shall not apply to certain correctional facilities leased by State and local governments.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Finance requested executive comment from OMB, Treasury Department.
Senate Subcommittee on Taxation and Debt Management. Hearings held. Hearings printed: S.Hrg. 98-1130.
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