H.R. 4128 · 108th Congress
To amend the Internal Revenue Code of 1986 to permanently extend the 50-percent bonus depreciation added by…
Full title
To amend the Internal Revenue Code of 1986 to permanently extend the 50-percent bonus depreciation added by the Jobs and Growth Tax Relief Reconciliation Act of 2003, and for other purposes.
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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
WellerSponsor9 cosponsors · 1 D, 8 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to permanently extend the 50 percent and 30 percent bonus depreciation for certain original use property, including water utility property, computer software, or qualified leasehold improvement property, with a recovery period of 20 years or less.
What it does: CRS summary · Introduced in House · Apr 2, 2004
Amends the Internal Revenue Code to permanently extend the 50 percent and 30 percent bonus depreciation for certain original use property, including water utility property, computer software, or qualified leasehold improvement property, with a recovery period of 20 years or less. Allows a taxpayer to elect an increased refundable minimum tax credit in lieu of taking a bonus depreciation deduction.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to permanently extend the 50-percent bonus depreciation added by the Jobs and Growth Tax Relief Reconciliation Act of 2003, and for other purposes.
Latest action (Apr 2, 2004): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Apr 2, 2004
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.