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Current Tax Trends Affect Historic Rehabilitation: Catalyst Or Obstacle To The Preservation Of Our Nation's History? , William P. Van Saders
Current Tax Trends Affect Historic Rehabilitation: Catalyst Or Obstacle To The Preservation Of Our Nation's History? , William P. Van Saders
Fordham Urban Law Journal
Over the past decade, there has been a growing awareness of the need to restore structures of historic significance on both national and local levels. Both Presidents Carter and Reagan have supported the adoption of extensive federal tax legislation which would provide owners of historic investment property with tax incentives to rehabilitate rather than to raze such property. Unfortunately, these tax enactments have not provided the type of incentive for rehabilitation which was desired. Today in Congress, there is a growing school of thought that the current tax provisions foster the promotion of abusive tax shelters which allow investors to …
Industrial Development Bond Financing After The Deficit Reduction Act Of 1984: The Final Chapter?, Scott W. Bernstein
Industrial Development Bond Financing After The Deficit Reduction Act Of 1984: The Final Chapter?, Scott W. Bernstein
Fordham Urban Law Journal
Approximately sixteen years after Congress purportedly divested industrial development bonds (IDB) of the general tax exemption accorded interest on state and local obligations, President Reagan signed into law the Deficit Reduction Act of 1984 (1984 Act) which contains a substantial number of provisions affecting IDB financing. Title VII of the 1984 Act places a ceiling on the total dollar amount of IDBs that each state can issue per calendar year, further restricts the use of tax-exempt IDB proceeds, and eliminates various loopholes in the Internal Revenue Code pertaining to IDBs. Coincidentally, on November 27, 1984, the Treasury Department, in its …