US SB304 | 2009-2010 | 111th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 22 2009 - 25% progression, died in chamber
Action: 2009-01-22 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 22 2009 - 25% progression, died in chamber
Action: 2009-01-22 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]
Summary
Main Street Recovery Act - Provides for a 15% investment tax credit through June 30, 2010, for the purchase of business equipment and machinery. Amends the Internal Revenue Code to: (1) extend through June 30, 2010, the additional 50% depreciation allowance (bonus depreciation) for business and investment property; (2) allow such depreciation for nonresidential real property or residential rental property; and (3) extend through 2010 the increased expensing allowance for depreciable business assets and expand the types of depreciable property eligible for expensing.
Title
Main Street Recovery Act
Sponsors
| Sen. Byron Dorgan [D-ND] |
History
| Date | Chamber | Action |
|---|---|---|
| 2009-01-22 | Read twice and referred to the Committee on Finance. | |
| 2009-01-22 | Sponsor introductory remarks on measure. (CR S790-791) |
Same As/Similar To
SB294 (Related) 2009-01-21 - Read twice and referred to the Committee on Finance.
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/111th-congress/senate-bill/304/all-info |
| Text | https://www.congress.gov/111/bills/s304/BILLS-111s304is.pdf |
