H.R. 947 · 118th Congress
Bring Entrepreneurial Advancements To Consumers Here In North America Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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Bring Entrepreneurial Advancements To Consumers Here In North America Act
What it does: CRS summary · Introduced in House · Feb 9, 2023
Bring Entrepreneurial Advancements To Consumers Here In North America Act
This bill provides tax incentives for relocating manufacturing facilities in the United States.
Specifically, it allows accelerated depreciation (20-year recovery period) for nonresidential real property acquired in connection with the relocation of manufacturing facilities in the United States. It also excludes from gross income, for income tax purposes, gain on the sale or exchange of such relocated facilities.
Finally, the bill allows permanent 100% expensing of manufacturing property relocated in the United States.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Bring Entrepreneurial Advancements To Consumers Here In North America Act
Latest action (Feb 9, 2023): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Feb 9, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.