S. 1342 · 113th Congress
Small Business Investment Promotion Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FlakeSponsor4 cosponsors · 1 D, 3 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Small Business Investment Promotion Act - Amends the Internal Revenue Code, with respect to the expensing allowance for depreciable business property, to make permanent: (1) the increased $200,000 expensing allowance for such property, (2) the increased $800,000 threshold amount for such property over which the expensing allowance is reduced, (3) expensing…
What it does: CRS summary · Introduced in Senate · Jul 23, 2013
Small Business Investment Promotion Act - Amends the Internal Revenue Code, with respect to the expensing allowance for depreciable business property, to make permanent: (1) the increased $200,000 expensing allowance for such property, (2) the increased $800,000 threshold amount for such property over which the expensing allowance is reduced, (3) expensing of computer software, and (4) rules for the expensing of qualified real property. Eliminates the termination date for exercising an election to expense property. Allows an inflation adjustment to the dollar amounts of the expensing allowance for taxable years beginning after 2014.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Investment Promotion Act
Latest action (Jul 23, 2013): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jul 23, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.