S 2350
114th Congress
Senate
Taxation
Business investment and capital
Computers and information technology
Income tax deductions
Full Expensing Act of 2015
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 3, 2015
Read twice and referred to the Committee on Finance.
Dec 3, 2015
Introduced in Senate
Plain-English summary
Full Expensing Act of 2015
This bill amends the Internal Revenue Code to expand the expensing allowance for certain depreciable business property (section 179 property) by: (1) redefining "section 179 property" to include tangible property or computer software that is acquired by purchase for use in a trade or business or for the production of income, and (2) repealing the dollar limitation on the amount of such property that may be deducted as an expense in the current taxable year.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1