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 software, and a 7-year useful life for depreciation of certain auction-acquired telecommunications licenses.
Introduced: October 2, 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
Oct 2, 2001
Referred to the House Committee on Ways and Means.
Oct 2, 2001
Introduced in House
Plain-English summary
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
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1