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HR 5278 107th Congress House

High Productivity and Economic Growth Act of 2002

Official title: To amend the Internal Revenue Code of 1986 to encourage investment in high productivity property, and for other purposes.

Introduced: July 26, 2002 See on congress.gov
Taxation Air pollution control equipmentBiological researchBusiness income taxCAD/CAM systems
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CeramicsCommerceComputer softwareComputersDepreciation and amortizationElectronicsEnvironmental ProtectionEnvironmental technologyEquipment and suppliesFiber opticsGlass and glass industryHealthHigh technologyIncome taxLasersMedical technologyMinimum taxPolymersScience, Technology, CommunicationsScientific instruments and apparatusSemiconductor industryTax deductionsTechnological innovationsTelecommunication industryTelecommunication systems
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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
Jul 26, 2002
Referred to the House Committee on Ways and Means.
Jul 26, 2002
Introduced in House
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 Latest action July 26, 2002

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service
Introduced High Productivity Investment Act of 2001 - Amends the Internal Revenue Code to allow the expensing of the cost of high productivity property (defined as certain computer and computer related property, electronic equipment, semiconductor manufacturing equipment, optical fiber equipment, advanced environmental or life science products, and etc.). Directs that an election to treat property in such a fashion shall be made on an asset by asset basis, and that the cost of such property shall not include so much of the basis as is determined by reference to the basis of other property held at any time by the taxpayer. Provides for a recapture if the property is not used predominately in a trade or business at any time.

Excludes certain property from qualifying for high productivity expensing.

Makes permanent the 30 percent expensing for certain property acquired after September 10, 2001.

Prescribes that the depreciation rules shall not be modified for purposes of the alternative minimum tax.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Neal, Richard E.
Massachusetts · Jul 26, 2002
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5278: High Productivity and Economic Growth Act of 2002. 107th Congress. Open America. https://openamerica.io/bill/107-HR-5278/
MLA
"H.R. 5278: High Productivity and Economic Growth Act of 2002." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-5278/.
Bluebook (legal)
H.R. 5278, 107th Cong. (2026), https://openamerica.io/bill/107-HR-5278/.
Markdown link
[H.R. 5278: High Productivity and Economic Growth Act of 2002](https://openamerica.io/bill/107-HR-5278/)
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