S. 294 · 111th Congress
A bill to amend the Internal Revenue Code of 1986 to extend and modify the special allowance for property…
Full title
A bill to amend the Internal Revenue Code of 1986 to extend and modify the special allowance for property acquired during 2009 and to temporarily increase the limitation for expensing certain business assets.
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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
SpecterSponsorNo cosponsors.
Amends the Internal Revenue Code to: (1) extend for one year the additional 50% depreciation allowance (bonus depreciation) for business property placed in service in 2009; (2) qualify motion picture film or video tape for bonus depreciation; and (3) extend through 2009 the increased ($250,000) expensing allowance for certain depreciable business assets.
What it does: CRS summary · Introduced in Senate · Jan 21, 2009
Amends the Internal Revenue Code to: (1) extend for one year the additional 50% depreciation allowance (bonus depreciation) for business property placed in service in 2009; (2) qualify motion picture film or video tape for bonus depreciation; and (3) extend through 2009 the increased ($250,000) expensing allowance for certain depreciable business assets.
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 extend and modify the special allowance for property acquired during 2009 and to temporarily increase the limitation for expensing certain business assets.
Latest action (Jan 21, 2009): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jan 21, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.