HR 4128
108th Congress
House
Taxation
Accounting
Commerce
Contracts
Corporation taxes
Depreciation and amortization
Finance and Financial Sector
Income tax
Minimum tax
Tax credits
Tax deductions
Tax refunds
To amend the Internal Revenue Code of 1986 to permanently extend the 50-percent bonus depreciation added by the Jobs and Growth Tax Relief Reconciliation Act of 2003, and for other purposes.
Introduced: April 2, 2004
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 2, 2004
Referred to the House Committee on Ways and Means.
Apr 2, 2004
Sponsor introductory remarks on measure. (CR E522)
Apr 2, 2004
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to permanently extend the 50 percent and 30 percent bonus depreciation for certain original use property, including water utility property, computer software, or qualified leasehold improvement property, with a recovery period of 20 years or less. Allows a taxpayer to elect an increased refundable minimum tax credit in lieu of taking a bonus depreciation deduction.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1