Political Quotes

Tom Harkin: “I have been seeking a small change in the tax law that would simply undo a provision in the 1986 tax bill, eliminating…”

On the recordDecember 8, 2006
I have been seeking a small change in the tax law that would simply undo a provision in the 1986 tax bill, eliminating the special treatment given to a few buildings in Sioux City, IA, allowing them to be treated like any other property under the general laws. The desire is to rehabilitate one of those buildings, an old historic hotel. It has long been boarded up. The goal is to renovate it for use as affordable elderly housing, an adult respite care facility and perhaps other uses. I believe the Finance Committee has been aware of the technical tax issues involved for a long time. The provision is of no or minimal cost to the Treasury. And, as I noted, the property's owners are not asking for special treatment but, unusually, are asking that they be treated like other taxpayers with a similar property.
Said by
Tom Harkin
Democratic · Iowa
Source
govinfo.gov

Editor's note · Context

Discussing a proposed change to tax law regarding historic buildings in Sioux City, Iowa.

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