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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Historic Structures Tax Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

A bill to amend the Internal Revenue Code of 1954 to encourage the preservation and rehabilitation of historic buildings and structures and the rehabilitation of other property.

Actions Overview (1)

06/25/1975Introduced in House

All Actions (2)

06/25/1975Referred to House Committee on Ways and Means.
Action By: House of Representatives
06/25/1975Introduced in House
Action By: House of Representatives

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means06/25/1975 Referred to

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Subjects (5)

Latest Summary (1)

There is one summary for H.R.8224. View summaries

Shown Here:
Introduced in House (06/25/1975)

Historic Structures Tax Act - Provides, under the Internal Revenue Code, for the preservation and rehabilitation of historic structures by allowing a tax deduction under the Internal Revenue Code with respect to the amortization of the amortizable basis of any certified historic structure based on a period of 60 months.

Specifies that no deduction shall be allowed for any expense or loss incurred as a result of the destruction of a certified historic structure. Limits deductions on structures erected upon a site which was occupied by a certified historic structure which was demolished or substantially altered.

Allows the taxpayer to compute the depreciation deduction attributable to substantially rehabilitated property as through the original use of such property commenced with him.

Permits deductions for transfer of the remainder or partial interests in property for conservation purposes.