US Congress Senate Bill 2723 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on November 3 2009 - 25% progression, died in chamber
Action: 2009-11-03 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]

Amends the Internal Revenue Code to allow: (1) increased depreciation of qualified noncommercial aircraft property placed in service in 2010 or 2011; and (2) a three-year recovery period for the depreciation of such property placed in service before 2015. Defines "qualified noncommercial aircraft property" as any aircraft that is not used in the trade or business of transporting persons or property and that is first used after 2009. Allows such increased depreciation as an offset against the alternative minimum tax.

A bill to amend the Internal Revenue Code of 1986 to provide a special depreciation allowance and recovery period for noncommercial aircraft property.

Sen. Sam Brownback [R-KS]

Sen. Pat Roberts [R-KS]

Date	Chamber	Action
2009-11-03		Read twice and referred to the Committee on Finance.
2009-11-03		Sponsor introductory remarks on measure. (CR S11051-11052)

HB3844 (Same As) 2009-10-15 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/2723/all-info
Text	https://www.congress.gov/111/bills/s2723/BILLS-111s2723is.pdf