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S 1341 106th Congress Senate

Main Street Business Incentive Act of 1999

Official title: A bill to amend the Internal Revenue Code of 1986 to expand the applicability of section 179 which permits the expensing of certain depreciable assets.

Introduced: July 1, 1999 See on congress.gov
Taxation Business income taxCapital gains taxCommerceDepreciation and amortization
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Income taxTax deductions
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 1, 1999
Read twice and referred to the Committee on Finance.
Jul 1, 1999
Sponsor introductory remarks on measure. (CR S8137-8138)
Jul 1, 1999
Introduced in Senate
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 Latest action July 1, 1999

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service
Main Street Business Incentive Act of 1999 - Amends the Internal Revenue Code (IRC) to accelerate, from taxable years beginning in 2003 to taxable years beginning after December 31, 1998, the $25,000 maximum dollar limitation applicable to the expensing of certain depreciable assets under section 179 of the IRC. Expands the definition of section 179 property (while maintaining the exclusion for air conditioning and heating units) to include any tangible property used in a trade or business.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2
D
Durbin, Richard J.
Illinois · Jul 1, 1999
 D
Schumer, Charles E.
New York · Jul 1, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1341: Main Street Business Incentive Act of 1999. 106th Congress. Open America. https://openamerica.io/bill/106-S-1341/
MLA
"S. 1341: Main Street Business Incentive Act of 1999." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-S-1341/.
Bluebook (legal)
S. 1341, 106th Cong. (2026), https://openamerica.io/bill/106-S-1341/.
Markdown link
[S. 1341: Main Street Business Incentive Act of 1999](https://openamerica.io/bill/106-S-1341/)
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