A bill to amend the Internal Revenue Code of 1954 to extend the application of Section 167 (k).

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to extend to January 1, 1984, the period during which taxpayers may elect to depreciate rehabilitation expenditures with respect to low-income rental housing under the straight line method over a period of 60 months. Increases the amount of such expenditures that may be depreciated from $20,000 to $30,000.…