Summary: H.R.796 — 101st Congress (1989-1990)All Information (Except Text)

There is one summary for H.R.796. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (02/02/1989)

Community Revitalization Tax Act of 1989 - Amends Internal Revenue Code income tax accounting rules to treat rehabilitation investment credits and low-income housing credits as credits not derived from passive activities.

Revises the limitation on the general business credit to allow a maximum annual credit equal to the first $20,000 of an individual taxpayer's income tax liability plus 80 percent of any excess liability.