Description And Analysis of Proposals Relating to Tax Incentives for Enterprise Zones (H.R. 11, H.R. 23, And Other Proposals) : Scheduled for Hearings Before the Subcommittee On Select Revenue Measures of the House Committee On Ways And Means On June 25 a

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Rehabilitation tax credit In order for a building other than a certified historic structure to qualify for the rehabilitation credit under present law, the building must have been first placed in service before 1936. Under the bill, a building that is located in a tax enterprise zone on the date that the rehabilitation begins would qualify for the rehabilitation credit if there is a period of at least 30 years between the date that the building was first placed in service and the date that the
...rehabili- tation begins. The amount of the credit allowable by reason of this special rule would be limited to the rehabilitation amount allocated to the building by the allocating official for the enterprise zone.
60-month amortization of child care facilities The bill would allow the amortizable basis of a qualified child care facility to be recovered ratably over a 60-month period (begin- ' ^ The $30,000 amount would be adjusted for increases in the cost of living occurring after 1991.
19 ning with the month that the facility is placed in service) in lieu of the depreciation deductions allowed under present law.


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