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- Title
THE IMPACT OF ERTA AND TEFRA ON TAX CREDITS FOR HISTORIC PRESERVATION.
- Abstract
The article focuses on the U.S. Congress decision to legislate in the area of tax code rehabilitation credits for the preservation of historic buildings. It offers a history of tax incentives for certified historic structures (CHS) certified by the U.S. Secretary of Interior or listed in the U.S. National Register as provided for in the Tax Reform Act of 1976 and the expansion of incentives in the Revenue Act of 1978. It mentions Economic Recovery Tax Act of 1981 (ERTA) incentives including the new tax credits, qualified rehabilitation, tax credit recapture and the establishment of the Accelerated Cost Recovery System (ACRS). It also notes the CHS's reduction rule in the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and the substantial rehabilitation requirement of ERTA.
- Subjects
UNITED States; UNITED States. Congress; INTERNAL revenue law; UNITED States tax laws; TAX incentives; DEPRECIATION; TAX reform
- Publication
Law & Contemporary Problems, 1985, Vol 48, Issue 4, p259
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1191490