To amend the Internal Revenue Code of 1986 to permanently extend the 50-percent bonus depreciation added by the Jobs and Growth Tax Relief Reconciliation Act of 2003, and for other purposes.

3.0.0 4128 2023-01-15T04:48:37Z 2023-01-15T04:48:37Z House H HR 2004-04-02 108 hswm00 Ways and Means Committee House Standing Referred to 2004-04-02T14:00:25Z 2004-04-02 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2004-04-02 Sponsor introductory remarks on measure. (CR E522) IntroReferral B00100 9 Library of Congress 2004-04-02 Introduced in House IntroReferral Intro-H 9 Library of Congress 2004-04-02 Introduced in House IntroReferral 1000 9 Library of Congress W000273 Rep. Weller, Jerry [R-IL-11] GERALD WELLER R IL C. 11 N N000015 Rep. Neal, Richard E. [D-MA-2] RICHARD NEAL D MA E. 2 2004-04-02 True U000031 Rep. Upton, Fred [R-MI-6] FRED UPTON R MI 6 2004-04-02 True T000260 Rep. Tiahrt, Todd [R-KS-4] TODD TIAHRT R KS 4 2004-04-02 True E000187 Rep. English, Phil [R-PA-3] PHIL ENGLISH R PA 3 2004-04-02 True C000873 Rep. Crane, Philip M. [R-IL-8] PHILIP CRANE R IL M. 8 2004-06-09 False P000373 Rep. Pitts, Joseph R. [R-PA-16] JOSEPH PITTS R PA R. 16 2004-06-09 False G000545 Rep. Green, Mark [R-WI-8] MARK GREEN R WI 8 2004-06-09 False S001143 Rep. Souder, Mark E. [R-IN-3] MARK SOUDER R IN EDWARD 3 2004-06-09 False O000166 Rep. Otter, C. L. (Butch) [R-ID-1] C. L. OTTER R ID 1 2004-06-09 False Taxation Accounting Commerce Contracts Corporation taxes Depreciation and amortization Finance and Financial Sector Income tax Minimum tax Tax credits Tax deductions Tax refunds Taxation

00 2004-04-02 Introduced in House 2004-06-09T12:46:48Z Amends the Internal Revenue Code to permanently extend the 50 percent and 30 percent bonus depreciation for certain original use property, including water utility property, computer software, or qualified leasehold improvement property, with a recovery period of 20 years or less. Allows a taxpayer to elect an increased refundable minimum tax credit in lieu of taking a bonus depreciation deduction.

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To amend the Internal Revenue Code of 1986 to permanently extend the 50-percent bonus depreciation added by the Jobs and Growth Tax Relief Reconciliation Act of 2003, and for other purposes. Display Title To amend the Internal Revenue Code of 1986 to permanently extend the 50-percent bonus depreciation added by the Jobs and Growth Tax Relief Reconciliation Act of 2003, and for other purposes. Official Title as Introduced To amend the Internal Revenue Code of 1986 to permanently extend the 50-percent bonus depreciation added by the Jobs and Growth Tax Relief Reconciliation Act of 2003, and for other purposes. Introduced in House IH Introduced in House 2004-04-02T05:00:00Z 2004-04-02 Referred to the House Committee on Ways and Means. text/xml EN 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. Congressional Research Service, Library of Congress 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.