HR 2485
107th Congress
House
Taxation
Accounting
Business income tax
CAD/CAM systems
Commerce
Computer integrated manufacturing systems
Computer software
Computers
Depreciation and amortization
Electric power production
Energy
Environmental Protection
Environmental technology
Equipment and supplies
Fiber optics
Finance and Financial Sector
Health
High technology
Housing and Community Development
Hydroelectric power
High Productivity Investment Act of 2001
Introduced: July 12, 2001
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 12, 2001
Referred to the House Committee on Ways and Means.
Jul 12, 2001
Introduced in House
Plain-English summary
High Productivity Investment Act of 2001 - Amends the Internal Revenue Code to establish two new depreciation provisions: (1) the rapid cost recovery system under which the cost of specified property may be depreciated more quickly than under current depreciation methods; and (2) the high productivity investment deduction under which the cost of specified property may be expensed.
Modifies the alternative minimum tax.
Directs the Secretary of the Treasury to establish a table showing classes of property and the modified class life of each class of property. Provides a schedule on which the Secretary's initial table shall be based.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1