S 1342
113th Congress
Senate
Taxation
Business investment and capital
Computers and information technology
Food industry and services
Income tax deductions
Inflation and prices
Retail and wholesale trades
Small Business Investment Promotion Act
Introduced: July 23, 2013
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 23, 2013
Read twice and referred to the Committee on Finance.
Jul 23, 2013
Introduced in Senate
Plain-English summary
Small Business Investment Promotion Act - Amends the Internal Revenue Code, with respect to the expensing allowance for depreciable business property, to make permanent: (1) the increased $200,000 expensing allowance for such property, (2) the increased $800,000 threshold amount for such property over which the expensing allowance is reduced, (3) expensing of computer software, and (4) rules for the expensing of qualified real property. Eliminates the termination date for exercising an election to expense property. Allows an inflation adjustment to the dollar amounts of the expensing allowance for taxable years beginning after 2014.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1