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Appendix A <br />RICHARD G. LUGAR <br />INDIANA <br />SH 308 SENATE OFFICE BUILDING <br />WASHINGTON, D.C. 20510 <br />202-224-4814 niter.1*tates V$Mate <br />WASHINGTON, D.C. 20510 <br />June 7, 1984 <br />Mr. John H. Oxian <br />Vice President <br />Historic Preservation Commission <br />of South Bend and St. Joseph County <br />Room 1123 County City Building <br />South Bend, IN 46601 <br />Dear Mr. Oxian: <br />COMMRTEES: <br />FOREIGN RELATIONS <br />AGRICULTURE, NUTRITION AND FORESTRY <br />SELECT COMMITTEE ON INTELLIGENCE <br />I noted your thoughts about a change in the current law <br />investment tax credit for the rehabilitation of certain historic <br />structures. As you know, this amendment was part of a compromise <br />which reduced a Senate Finance Committee proposal for a 20 year <br />ACRS proposal depreciation period for real property. <br />On June 6, Members of the House Ways and Means Committee and <br />Senate Finance Committee began meeting to resolve the differences <br />between the Senate bill and the House bill which does not change <br />the 15 year depreciation period. At this point it is impossible <br />to predict with certainty the outcome of the conference. There <br />is virtually no limitation on the Conference Committee as it <br />considers the issues and no requirement that the final compromise <br />legislation must bear much similarity to the original bills. <br />However, I remain committed to a pro -investment tax code and will <br />continue to work toward maintaining a positive approach toward <br />real estate investment.. <br />When the Conference Committee reports a final bill, it will <br />be very difficult to amend the bill or to vote against the bill. <br />This situation exists because the tax bill is combined with the <br />various spending reductions, revenue increases, and overall budget <br />ceilings which will be our "downpayment on the deficit." <br />Thus the legislation which will contain the new restrictions on <br />IDB's will be within a huge budget bill which has been the result <br />of months of difficult negotiations, much work, and hundreds of <br />votes on various amendments. <br />I am interested in your views, and I am basically sympathetic <br />with your position. I will be alert to ways of altering the <br />0 <br />