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HR 2646 102th Congress House Taxation Corporation taxes Depreciation and amortization Income tax Manufacturing industries Minimum tax Tax deductions

Productive Investment Incentive Act

Introduced: June 13, 1991 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 13, 1991
Referred to the House Committee on Ways and Means.
Jun 13, 1991
Introduced in House
 Plain-English summary Congressional Research Service

Productive Investment Incentive Act - Amends the Internal Revenue Code to allow a business expense deduction for up to $250,000 (currently, $10,000) of depreciable business assets if property is used as an integral part of manufacturing, production, or extraction. Reduces such allowance by the amount by which the cost of such property exceeds $1,000,000 (currently, $200,000) for a taxable year.

Excludes such depreciation deduction from the alternative minimum tax.

What's happening now June 13, 1991

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1