Skip to main content
S 314 118th Congress Senate Taxation

CREATE JOBS Act

Introduced: February 9, 2023 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
Feb 9, 2023
Read twice and referred to the Committee on Finance.
Feb 9, 2023
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 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 February 9, 2023

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1