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HR 3501 107th Congress House Economics and Public Finance Administrative remedies Authorization Automobiles Building construction Building leases Business income tax Collection of accounts Commerce Commercial aircraft Computer software Congress Congressional reporting requirements Crime and Law Enforcement Department of Labor Depreciation and amortization Dislocated workers EBB Terrorism Electronic government information Families

Economic Recovery Act of 2001

Introduced: December 13, 2001 Introduced by: Smith, Adam Democratic · Washington 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 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 5, 2002
Referred to the Subcommittee on 21st Century Competitiveness.
Apr 5, 2002
Referred to the Subcommittee on Employer-Employee Relations.
Dec 28, 2001
Referred to the Subcommittee on Health, for a period to be subsequently determined by the Chairman.
Dec 13, 2001
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Dec 13, 2001
Introduced in House
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 Plain-English summary Congressional Research Service
Economic Recovery Act of 2001 - Amends the Internal Revenue Code to allow an additional first year 30 percent depreciation allowance for property which has a recovery period of 20 years or less, is water utility property, or computer software and which was acquired after September 10, 2001, and before September 11, 2004, and is placed in service before January 1, 2005.

Provides for a supplemental rebate for individuals who, before October 16, 2001, filed tax returns for 2000.

Provides for a program of temporary emergency unemployment compensation.

Directs the Secretary of Labor to establish an emergency health coverage assistance program to provide a limited period of health insurance premium assistance for certain qualified individuals for Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) continuation coverage.

Allows a State to elect to provide temporary Medicaid coverage for certain uninsured individuals: (1) eligible for unemployment benefits; (2) not eligible for COBRA continuation coverage; and (3) with assets and resources below certain levels.

Provides for a revenue offset by increasing the 35 percent highest marginal tax rate to 37.6 percent (effective in 2006).

Amends the Workforce Investment Act of 1998 to provide additional funding for national emergency grants.

What's happening now April 5, 2002

Referred to the Subcommittee on 21st Century Competitiveness.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 6
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APA
U.S. Congress. (2026). H.R. 3501: Economic Recovery Act of 2001. 107th Congress. Open America. https://openamerica.io/bill/107-HR-3501/
MLA
"H.R. 3501: Economic Recovery Act of 2001." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-3501/.
Bluebook (legal)
H.R. 3501, 107th Cong. (2026), https://openamerica.io/bill/107-HR-3501/.
Markdown link
[H.R. 3501: Economic Recovery Act of 2001](https://openamerica.io/bill/107-HR-3501/)
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