H.R. 1222 · 108th Congress
To permit a special amortization deduction for intangible assets acquired from eligible small businesses to…
Full title
To permit a special amortization deduction for intangible assets acquired from eligible small businesses to take account of the actual economic useful life of such assets and to encourage growth in industries for which intangible assets are an important source of revenue.
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FoleySponsor17 cosponsors · 5 D, 12 R
R
Cantor
JD
R
Duncan
HBR
Bonilla
LT
R
Terry
CP
R
Pickering
TP
R
Platts
PT
R
Tiberi
RA
D
Andrews
RK
R
Keller
JK
R
Kingston
JM
R
Miller
MR
D
Ross
RH
D
Holt
AC
R
Crenshaw
HR
R
Rogers
BB
D
Baird1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to allow a special amortization tax deduction for up to $5 million of the intangible property acquired from an eligible small business (i.e., a business with gross receipts not exceeding $5 million for the three preceding taxable years) after December 31, 2002.
What it does: CRS summary · Introduced in House · Mar 12, 2003
Amends the Internal Revenue Code to allow a special amortization tax deduction for up to $5 million of the intangible property acquired from an eligible small business (i.e., a business with gross receipts not exceeding $5 million for the three preceding taxable years) after December 31, 2002.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To permit a special amortization deduction for intangible assets acquired from eligible small businesses to take account of the actual economic useful life of such assets and to encourage growth in industries for which intangible assets are an important source of revenue.
Latest action (Mar 12, 2003): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 12, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.