HR 5974
112th Congress
House
Taxation
Business investment and capital
Income tax credits
Income tax deductions
Oil and gas
Invest in America Now Act of 2012
Introduced: June 20, 2012
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 20, 2012
Referred to the House Committee on Ways and Means.
Jun 20, 2012
Introduced in House
Plain-English summary
Invest in America Now Act of 2012 - Amends the Internal Revenue Code to: (1) extend through 2012 the 100% bonus depreciation allowance for business assets; (2) increase the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation; and (3) deny major integrated oil companies a tax deduction for income attributable to the domestic production, transportation, or distribution of oil, natural gas, and primary products thereof.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1