HR 1565
105th Congress
House
Taxation
Automobiles
Business income tax
Commerce
Depreciation and amortization
Income tax
Tax deductions
Transportation and Public Works
To amend the Internal Revenue Code of 1986 to increase the amount of depreciable business assets which may be expensed, and for other purposes.
Introduced: May 8, 1997
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 8, 1997
Referred to the House Committee on Ways and Means.
May 8, 1997
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to increase the dollar limitation on the cost of property which may be expensed by businesses as depreciable assets. Increases the amount of such property that may be placed in service at which phaseout begins.
Increases the limitation on the depreciation deduction for certain automobiles.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1