Publisher's Synopsis
Excerpt from Description of S. 1787 (Asset Disposition and Revitalization Credit Act of 1991): Scheduled for a Hearing Before the Subcommittee on Taxation of the Senate Committee on Finance on October 22, 1991
On October 1, 1991, Senator Breaux, along with Senator Kerry, introduced S. 1787, entitled the Asset Disposition and Revitalization Credit Act of The bill is intended to encourage the sale of real property held by the Resolution Trust Corporation (rtc) by amending the Internal Revenue Code to allow a general business credit against the income tax of purchasers of such property (the rtc property credit Certain provisions of the proposed rtc property credit are similar to provisions of the present - law low-income housing tax credit.
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