S. 2723 · 111th Congress
A bill to amend the Internal Revenue Code of 1986 to provide a special depreciation allowance and recovery…
Full title
A bill to amend the Internal Revenue Code of 1986 to provide a special depreciation allowance and recovery period for noncommercial aircraft property.
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BrownbackSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to allow: (1) increased depreciation of qualified noncommercial aircraft property placed in service in 2010 or 2011; and (2) a three-year recovery period for the depreciation of such property placed in service before 2015.
What it does: CRS summary · Introduced in Senate · Nov 3, 2009
Amends the Internal Revenue Code to allow: (1) increased depreciation of qualified noncommercial aircraft property placed in service in 2010 or 2011; and (2) a three-year recovery period for the depreciation of such property placed in service before 2015. Defines "qualified noncommercial aircraft property" as any aircraft that is not used in the trade or business of transporting persons or property and that is first used after 2009. Allows such increased depreciation as an offset against the alternative minimum tax.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend the Internal Revenue Code of 1986 to provide a special depreciation allowance and recovery period for noncommercial aircraft property.
Latest action (Nov 3, 2009): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Nov 3, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.