HR 3123
112th Congress
House
Taxation
Business investment and capital
Income tax credits
Income tax deductions
American Job Creation and Investment Act of 2011
Introduced: October 6, 2011
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 6, 2011
Referred to the House Committee on Ways and Means.
Oct 6, 2011
Introduced in House
Plain-English summary
American Job Creation and Investment Act of 2011 - Amends the Internal Revenue Code, with respect to the election to accelerate the alternative minimum tax (AMT) credit in lieu of bonus depreciation, to: (1) repeal the $30 million cap on the AMT tax credit and increase the rate of such credit from 6% to 50%, (2) allow investments made by partnerships that are more than 50% owned by a corporation to qualify for such increased AMT credit amount, and (3) allow taxpayers to make separate elections for each taxable year to take bonus depreciation or AMT credits in lieu of bonus depreciation.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1