A bill to amend the Internal Revenue Code of 1954 to provide that restrictions on the allowance for depreciation and the investment credit for property leased by a tax-exempt entity not apply to certain correctional facilities leased by State and local governments.
Prison Construction Privatization Act of 1985 - 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.
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