Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2014

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


Item DescriptionFY2012 FY2013 FY2014
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 costs of renovation from gross incomes. 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 be related 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.


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