US SB4376 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on July 30 2020 - 25% progression, died in committee
Action: 2020-07-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 30 2020 - 25% progression, died in committee
Action: 2020-07-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Allows permanent expensing of qualified property (i.e., property with a recovery period of 20 years or less and that is computer software, water utility property, or film, television, or live theatrical production property). It also modifies depreciation provisions for residential rental property and nonresidential real property. The bill repeals provisions for the amortization of research and experimental expenditures, thus providing for direct expensing of such expenditures.
Title
CREATE JOBS Act Cost Recovery and Expensing Acceleration to Transform the Economy and Jumpstart Opportunities for Businesses and Startups Act of 2020
Sponsors
| Sen. Ted Cruz [R-TX] | Sen. Martha McSally [R-AZ] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-07-30 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
SB4537 (Related) 2020-09-08 - Read twice and referred to the Committee on Finance.
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/senate-bill/4376/all-info |
| Text | https://www.congress.gov/116/bills/s4376/BILLS-116s4376is.pdf |
