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HR 2981 107th Congress House Taxation Business income tax Commerce Computer networks Computer software Computers Depreciation and amortization Equipment and supplies Income tax Information technology Internet Law Licenses Radio spectrum allocation Science, Technology, Communications Tax deductions Telecommunication industry Television frequency allocation Wireless communication

To amend the Internal Revenue Code of 1986 to establish a 2-year recovery period for depreciation of computers and other technological equipment, a 24-month useful life for depreciation of computer…

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To amend the Internal Revenue Code of 1986 to establish a 2-year recovery period for depreciation of computers and other technological equipment, a 24-month useful life for depreciation of computer software, and a 7-year useful life for depreciation of certain auction-acquired telecommunications licenses.

Introduced: October 2, 2001 See on congress.gov
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 2, 2001
Referred to the House Committee on Ways and Means.
Oct 2, 2001
Introduced in House
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 Plain-English summary Congressional Research Service
Amends the Internal Revenue Code to establish a two year recovery period for depreciation of computers and other technological equipment. Reduces the recovery period from five to two years under the alternative depreciation system for certain property ( tax-exempt use property, etc.). Reduces the useful life for depreciation of computer software from 36 to 24 months.

Establishes a seven year useful life for depreciation of certain auction-acquired telecommunications licences.

What's happening now October 2, 2001

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2
R
Sessions, Pete
Texas · Oct 2, 2001
 R
Smith, Christopher H.
New Jersey · Oct 2, 2001
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2981: To amend the Internal Revenue Code of 1986 to establish a 2-year recovery period for depreciation of computers and other technological equipment, a 24-month useful life for depreciation of computer software, and a 7-year useful life for depreciation of certain auction-acquired telecommunications licenses.. 107th Congress. Open America. https://openamerica.io/bill/107-HR-2981/
MLA
"H.R. 2981: To amend the Internal Revenue Code of 1986 to establish a 2-year recovery period for depreciation of computers and other technological equipment, a 24-month useful life for depreciation of computer software, and a 7-year useful life for depreciation of certain auction-acquired telecommunications licenses.." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-2981/.
Bluebook (legal)
H.R. 2981, 107th Cong. (2026), https://openamerica.io/bill/107-HR-2981/.
Markdown link
[H.R. 2981: To amend the Internal Revenue Code of 1986 to establish a 2-year recovery period for depreciation of computers and other technological equipment, a 24-month useful life for depreciation of computer software, and a 7-year useful life for depreciation of certain auction-acquired telecommunications licenses.](https://openamerica.io/bill/107-HR-2981/)
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