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Leasehold improvement recovery addressed. (Legislative Update).

Despite Congress' failure to agree on an economic stimulus package before their holiday recess last year, the House did pass a bill in October concerning relief for leasehold improvement that contained a permanent provision shortening the recovery period for these investments to 15 from 39 years. The Senate Finance Committee had agreed to provide a one-year 10 percent bonus depreciation, which during House-Senate negotiations seemed to have been agreed to as a three-year provision with a first-year bonus depreciation of 30 percent. The House passed a second version of the stimulus package, which provided a permanent provision reducing the recovery period to 15 from 39 years.
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Publication:Journal of Property Management
Article Type:Brief Article
Geographic Code:1USA
Date:Mar 1, 2002
Words:106
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