Skip to main content
S 4376 116th Congress Senate Taxation Business expenses Income tax deductions Real estate business Research and development

CREATE JOBS Act

Introduced: July 30, 2020 Introduced by: Cruz, Ted Republican · Texas See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 30, 2020
Read twice and referred to the Committee on Finance.
Jul 30, 2020
Introduced in Senate
 Plain-English summary Congressional Research Service

Cost Recovery and Expensing Acceleration to Transform the Economy and Jumpstart Opportunities for Businesses and Startups Act of 2020 or the CREATE JOBS Act

This bill allows permanent expensing of qualified property (i.e., property with a recovery period of 20 years or less and that is computer software, water utility property, or film, television, or live theatrical production property). It also modifies depreciation provisions for residential rental property and nonresidential real property.

The bill repeals provisions for the amortization of research and experimental expenditures, thus providing for direct expensing of such expenditures.

What's happening now July 30, 2020

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1