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    <number>1079</number>
    <updateDate>2023-01-15T22:18:37Z</updateDate>
    <updateDateIncludingText>2023-01-15T22:18:37Z</updateDateIncludingText>
    <originChamber>House</originChamber>
    <originChamberCode>H</originChamberCode>
    <type>HR</type>
    <introducedDate>2003-03-05</introducedDate>
    <congress>108</congress>
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        <name>Ways and Means Committee</name>
        <chamber>House</chamber>
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            <name>Referred to</name>
            <date>2003-03-05T15:01:05Z</date>
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      <item>
        <actionDate>2003-03-05</actionDate>
        <text>Referred to the House Committee on Ways and Means.</text>
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            <name>Ways and Means Committee</name>
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        <actionDate>2003-03-05</actionDate>
        <text>Introduced in House</text>
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          <name>Library of Congress</name>
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      <item>
        <actionDate>2003-03-05</actionDate>
        <text>Introduced in House</text>
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        <sourceSystem>
          <code>9</code>
          <name>Library of Congress</name>
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    </actions>
    <sponsors>
      <item>
        <bioguideId>S000597</bioguideId>
        <fullName>Rep. Smith, Nick [R-MI-7]</fullName>
        <firstName>NICK</firstName>
        <lastName>SMITH</lastName>
        <party>R</party>
        <state>MI</state>
        <district>7</district>
        <isByRequest>N</isByRequest>
      </item>
    </sponsors>
    <cosponsors>
      <item>
        <bioguideId>H000676</bioguideId>
        <fullName>Rep. Hoekstra, Peter [R-MI-2]</fullName>
        <firstName>PETER</firstName>
        <lastName>HOEKSTRA</lastName>
        <party>R</party>
        <state>MI</state>
        <district>2</district>
        <sponsorshipDate>2003-03-05</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>E000092</bioguideId>
        <fullName>Rep. Ehlers, Vernon J. [R-MI-3]</fullName>
        <firstName>VERNON</firstName>
        <lastName>EHLERS</lastName>
        <party>R</party>
        <state>MI</state>
        <middleName>J.</middleName>
        <district>3</district>
        <sponsorshipDate>2003-03-05</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
      <item>
        <bioguideId>C000071</bioguideId>
        <fullName>Rep. Camp, Dave [R-MI-4]</fullName>
        <firstName>DAVE</firstName>
        <lastName>CAMP</lastName>
        <party>R</party>
        <state>MI</state>
        <district>4</district>
        <sponsorshipDate>2003-03-05</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
      </item>
    </cosponsors>
    <policyArea>
      <name>Taxation</name>
    </policyArea>
    <subjects>
      <legislativeSubjects>
        <item>
          <name>Automobiles</name>
        </item>
        <item>
          <name>Capital investments</name>
        </item>
        <item>
          <name>Commerce</name>
        </item>
        <item>
          <name>Computer software</name>
        </item>
        <item>
          <name>Cost of living adjustments</name>
        </item>
        <item>
          <name>Depreciation and amortization</name>
        </item>
        <item>
          <name>Economics and Public Finance</name>
        </item>
        <item>
          <name>Finance and Financial Sector</name>
        </item>
        <item>
          <name>Income tax</name>
        </item>
        <item>
          <name>Indexing (Economic policy)</name>
        </item>
        <item>
          <name>Minimum tax</name>
        </item>
        <item>
          <name>Science, Technology, Communications</name>
        </item>
        <item>
          <name>Small business</name>
        </item>
        <item>
          <name>Tax deductions</name>
        </item>
        <item>
          <name>Transportation and Public Works</name>
        </item>
      </legislativeSubjects>
      <policyArea>
        <name>Taxation</name>
      </policyArea>
    </subjects>
    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2003-03-05</actionDate>
        <actionDesc>Introduced in House</actionDesc>
        <updateDate>2006-11-28T17:35:40Z</updateDate>
        <text><![CDATA[Neutral Cost Recovery Act for Small Business - Amends the Internal Revenue Code to: (1) provide for increased expensing for small businesses; and (2) require that the depreciation deduction for certain property placed in service after 2003 be computed using neutral cost recovery ratios.]]></text>
      </summary>
    </summaries>
    <title>Neutral Cost Recovery Act for Small Business</title>
    <titles>
      <item>
        <titleType>Display Title</titleType>
        <title>Neutral Cost Recovery Act for Small Business</title>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>To amend the Internal Revenue Code of 1986 to increase expensing for small business and to allow small business to elect to determine the deduction for depreciation on a neutral cost recovery basis for property otherwise eligible to be expensed.</title>
        <billTextVersionName>Introduced in House</billTextVersionName>
        <billTextVersionCode>IH</billTextVersionCode>
      </item>
      <item>
        <titleType>Short Titles as Introduced</titleType>
        <title>Neutral Cost Recovery Act for Small Business</title>
      </item>
    </titles>
    <textVersions>
      <item>
        <type>Introduced in House</type>
        <date>2003-03-05T05:00:00Z</date>
        <formats/>
      </item>
    </textVersions>
    <latestAction>
      <actionDate>2003-03-05</actionDate>
      <text>Referred to the House Committee on Ways and Means.</text>
    </latestAction>
  </bill>
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    <dc:language>EN</dc:language>
    <dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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