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HR 2981 107th Congress House

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…

Official title: 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 us… Show full official titleShow less

Official title: 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
Taxation Business income taxCommerceComputer networksComputer software
More subjectsShow fewer subjects
ComputersDepreciation and amortizationEquipment and suppliesIncome taxInformation technologyInternetLawLicensesRadio spectrum allocationScience, Technology, CommunicationsTax deductionsTelecommunication industryTelevision frequency allocationWireless communication
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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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 Latest action October 2, 2001

Referred to the House Committee on Ways and Means.

 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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 8
All 8 Republican 2
CRANE, PHILIP
· Oct 3, 2001
Burr, Richard
· Oct 2, 2001
DUNN, JENNIFER
· Oct 2, 2001
GREENWOOD, JAMES
· Oct 2, 2001
OSE, DOUG
· Oct 2, 2001
 R
Sessions, Pete
Texas · Oct 2, 2001
 R
Smith, Christopher H.
New Jersey · Oct 2, 2001
TAUZIN, W.
· 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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