A bill to amend the Internal Revenue Code of 1954 to allow a variable rate investment credit with respect to a newly constructed section 1250 property and to allow such credit to individuals in connection with their investment in newly constructed principal residences.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow an investment tax credit for investments in depreciable real property and in the case of individuals, in a new principal residence. Makes the amount of such credit dependent on the unemployment rate.…