US SB1342 | 2013-2014 | 113th Congress

Status

Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: Introduced on July 23 2013 - 25% progression, died in committee
Action: 2013-07-23 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Small Business Investment Promotion Act - Amends the Internal Revenue Code, with respect to the expensing allowance for depreciable business property, to make permanent: (1) the increased $200,000 expensing allowance for such property, (2) the increased $800,000 threshold amount for such property over which the expensing allowance is reduced, (3) expensing of computer software, and (4) rules for the expensing of qualified real property. Eliminates the termination date for exercising an election to expense property. Allows an inflation adjustment to the dollar amounts of the expensing allowance for taxable years beginning after 2014.

Tracking Information

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Title

Small Business Investment Promotion Act

Sponsors


History

DateChamberAction
2013-07-23SenateRead twice and referred to the Committee on Finance.

Same As/Similar To

SB1298 (Related) 2013-07-16 - Read twice and referred to the Committee on Finance.
HB4457 (Related) 2014-06-17 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 434.
HB4501 (Same As) 2014-04-28 - Referred to the House Committee on Ways and Means.
HB4 (Related) 2014-11-13 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 597.
HB5360 (Related) 2014-09-15 - Referred to the Subcommittee on Public Lands and Environmental Regulation.

Subjects


US Congress State Sources


Bill Comments

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