2.206 -Economic opportunity areas; tax deduction for renovation of abandoned buildings

Item DescriptionFY2010 FY2011 FY2012
2.206 Economic opportunity areas; tax deduction for renovation of abandoned buildings
Businesses renovating eligible buildings in Economic Opportunity Areas may deduct 10% of the cost of renovation from gross income. This deduction may be in addition to any other deduction for which the cost of renovation may qualify. To be eligible for this deduction, renovation costs must relate to buildings designated as abandoned by the Economic Assistance Coordinating Council.

Origin:  M.G.L. c. 63, S. 38O
Estimate:  Negligible 		Negligible Negligible Negligible

Key:

ORIGIN  
IRCFederal Internal Revenue Code (26 U.S.C.)
M.G.L. Massachusetts General Laws
U.S.C United States Code
ESTIMATES All estimates are in $ millions.