Rental Housing: Hearing Before the Subcommittee on Housing and Urban Affairs of the Committee on Banking, Housing, and Urban Affairs, United States Senate, Ninety-sixth Congress, Second Session ....

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Page 124 - Substantially Rehabilitated Historic Property 1 . General Rule Pursuant to regulations prescribed by the Secretary, the taxpayer may elect to compute the depreciation deduction attributable to substantially rehabilitated historic property as though the original use of such property commenced with him.
Page 131 - Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. The PRESIDING OFFICER. Without objection, it is so ordered. Mr.
Page 76 - ... Increased government action to expand the supply of moderate priced housing is necessary because the private housing market is not generating enough housing units for lower and moderate income persons. Aside from the general housing shortage, several other factors add to the severity of the shortages in the moderate priced home market. First, new residential construction has become increasingly luxury oriented and the units produced are not easily filtered down to middle income persons. Second,...
Page 131 - The question is on agreeing to the amendment of the Senator from Texas (Mr.
Page 78 - We hold these truths to be selfevident: that all men are created equal; that they are endowed by their Creator with certain unalienable rights; that among them is life, liberty, and the pursuit of happiness; that to secure these rights, Governments are instituted, deriving their just powers from the consent of the governed.
Page 153 - The accompanying notes to financial statements are an integral part of this statement. THE AMERICAN ECONOMIC ASSOCIATION STATEMENT OF CHANGES IN RESTRICTED FUND BALANCES FOR THE YEAR ENDED DECEMBER 31, 1974 The accompanying notes to financial statements are an integral part of this statement.
Page 131 - Mr. President, I suggest the absence of a quorum. The ACTING PRESIDENT pro tempore. The clerk will call the roll. The assistant legislative clerk proceeded to call the roll.
Page 76 - HUD owned housing suitable for homesteading is modest— less than 28,000 single family homes and less than 46,000 multi-family units — the volume of abandoned housing units which local governments could acquire by tax foreclosure is substantial, as many as 3 million units. New York City predicts that by 1981 it will own 250,000 multi -family units. o The federal subsidy for Sec. 8 and public housing should be expanded by establishing an annual target of 400,000 supply expansion units (rehabilitation...
Page 125 - Section 280B) , and it prohibits the use of accelerated depreciation for any structure built on site that was occupied by a certified historic structure that has been demolished or substantially altered other than by certified rehabilitation (IRC Section 167 (n) ) . Both of these provisions apply only to activities occurring on or before December 31, 1980.
Page 56 - Brady, of course, is not the first to remark the effects of "urban revitalization" and associated processes on the low income housing supply. "Gentrif ication, condominium conversion, and abandonment exacerbate the [housing] problem by removing rental housing from the market, driving up rents in the remaining apartments, and uprooting tenants from their communities'1 (Atlas and Dreier, 1980: 14). The result is a "widening shortage of housing," particularly on the low income side.