HR 2715
110th Congress
House
Taxation
Automobiles
Commerce
Depreciation and amortization
Income tax
Tax deductions
Transportation and Public Works
To amend the Internal Revenue Code of 1986 to include heavier vehicles in the limitation on the depreciation of certain luxury automobiles.
Introduced: June 14, 2007
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 14, 2007
Referred to the House Committee on Ways and Means.
Jun 14, 2007
Sponsor introductory remarks on measure. (CR E1299)
Jun 14, 2007
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to revise the definition of "passenger automobile" for purposes of the limitation on depreciation for luxury automobiles to mean any four-wheeled vehicle which is: (1) primarily designed or used to carry passengers over public streets, roads, or highways; and (2) rated at 14,000 pounds unloaded gross vehicle weight or less. Adds an exemption from such definition for certain vehicles with open cargo areas which are designed for more than nine individuals in seating rearward of the driver's seat.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1