H.R. 3455 · 115th Congress
Fairness for Agricultural Machinery and Equipment Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
AbrahamSponsor2 cosponsors · 1 D, 1 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to: (1) make permanent the five-year recovery period for the depreciation of certain farming business machinery and equipment by eliminating the requirement that the property be placed in service before 2010; and (2) expand the machinery and equipment that qualifies as five-year property to include a grain bin,…
What it does: CRS summary · Introduced in House · Jul 27, 2017
Fairness for Agricultural Machinery and Equipment Act
This bill amends the Internal Revenue Code to: (1) make permanent the five-year recovery period for the depreciation of certain farming business machinery and equipment by eliminating the requirement that the property be placed in service before 2010; and (2) expand the machinery and equipment that qualifies as five-year property to include a grain bin, cotton ginning asset, or fence used in a farming business. The original use of the five-year property must commence with the taxpayer after the enactment of this bill.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Fairness for Agricultural Machinery and Equipment Act
Latest action (Jul 27, 2017): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 27, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.