US SB803 | 2019-2020 | 116th Congress

Status

Spectrum: Moderate Partisan Bill (Republican 50-11-2)
Status: Introduced on March 14 2019 - 25% progression, died in committee
Action: 2019-03-14 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Confirms that the applicable recovery period for qualified improvement property (nonresidential real estate) for depreciation purposes is 15 years under the modified accelerated cost recovery system (MACRS) and 20 years under the alternative depreciation system (ADS).

Tracking Information

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Title

Restoring Investment in Improvements Act

Sponsors

Sen. Pat Toomey [R-PA]Sen. Doug Jones [D-AL]Sen. Angus King [I-ME]Sen. Joe Manchin [D-WV]
Sen. Rob Portman [R-OH]Sen. Pat Roberts [R-KS]Sen. Jeanne Shaheen [D-NH]Sen. John Thune [R-SD]
Sen. Kyrsten Sinema [I-AZ]Sen. Martha McSally [R-AZ]Sen. Catherine Cortez Masto [D-NV]Sen. Johnny Isakson [R-GA]
Sen. Jacky Rosen [D-NV]Sen. Roy Blunt [R-MO]Sen. Roger Wicker [R-MS]Sen. Susan Collins [R-ME]
Sen. Bill Cassidy [R-LA]Sen. Mike Rounds [R-SD]Sen. Michael Enzi [R-WY]Sen. Steve Daines [R-MT]
Sen. Marsha Blackburn [R-TN]Sen. Richard Burr [R-NC]Sen. Cindy Hyde-Smith [R-MS]Sen. Mitt Romney [R-UT]
Sen. Todd Young [R-IN]Sen. Cory Gardner [R-CO]Sen. Ted Cruz [R-TX]Sen. John Barrasso [R-WY]
Sen. John Cornyn [R-TX]Sen. Margaret Hassan [D-NH]Sen. Josh Hawley [R-MO]Sen. Dan Sullivan [R-AK]
Sen. Joni Ernst [R-IA]Sen. Lisa Murkowski [R-AK]Sen. James Lankford [R-OK]Sen. Dianne Feinstein [D-CA]
Sen. Christopher Coons [D-DE]Sen. Mike Crapo [R-ID]Sen. Marco Rubio [R-FL]Sen. John Hoeven [R-ND]
Sen. Richard Durbin [D-IL]Sen. Shelley Capito [R-WV]Sen. Tammy Duckworth [D-IL]Sen. Tim Scott [R-SC]
Sen. Tina Smith [D-MN]Sen. Rand Paul [R-KY]Sen. Jerry Moran [R-KS]Sen. Ron Johnson [R-WI]
Sen. Thom Tillis [R-NC]Sen. James Inhofe [R-OK]Sen. James Risch [R-ID]Sen. Tom Cotton [R-AR]
Sen. Mike Braun [R-IN]Sen. John Boozman [R-AR]Sen. Deb Fischer [R-NE]Sen. Rick Scott [R-FL]
Sen. Ben Sasse [R-NE]Sen. Mike Lee [R-UT]Sen. Lindsey Graham [R-SC]Sen. David Perdue [R-GA]
Sen. John Kennedy [R-LA]Sen. Lamar Alexander [R-TN]Sen. Kelly Loeffler [R-GA]

History

DateChamberAction
2019-03-14SenateRead twice and referred to the Committee on Finance.

Same As/Similar To

HB1869 (Same As) 2019-03-26 - Referred to the House Committee on Ways and Means.
HB748 (Related) 2020-07-23 - Committee on Small Business and Entrepreneurship. Hearings held.

Subjects


US Congress State Sources


Bill Comments

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