3.0.0 4001 2019-11-15T21:46:46Z 2019-11-15T21:46:46Z House H HR 2012-02-09 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]Mr. CAMPBELL:H.R. 4001.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8[Page H693]]]> hswm00 Ways and Means Committee House Standing Referred to 2012-02-09T14:02:10Z 2012-02-09 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2012-02-09 Introduced in House IntroReferral Intro-H 9 Library of Congress 2012-02-09 Introduced in House IntroReferral 1000 9 Library of Congress C001064 Rep. Campbell, John [R-CA-48] John Campbell R CA 48 N Taxation Aviation and airports Broadcasting, cable, digital technologies Business investment and capital Electric power generation and transmission Income tax deductions Infrastructure development Marine and inland water transportation Navigation, waterways, harbors Oil and gas Pipelines Railroads Roads and highways Solid waste and recycling Telephone and wireless communication Water use and supply Taxation 00 2012-02-09 Introduced in House 2012-04-13T17:55:16Z Amends the Internal Revenue Code to: (1) treat income and gains from the use, sale, or exchange of infrastructure property as qualifying income for purposes of the tax treatment of publicly-traded partnerships; (2) exempt publicly-traded partnerships from the limitation on the tax deduction for income attributable to oil-related qualified production activities; (3) allow accelerated depreciation of infrastructure property (i.e., classify such property as five-year property); and (4) treat exchanges of infrastructure property as like-kind exchanges (thus exempting gain from such exchanges from tax).

Defines "infrastructure property" as property which is part of: (1) roads and related improvements; (2) train tracks and related improvements; (3) airports; (4) docks and wharves; (5) facilities for sewage, solid waste disposal, the furnishing of water, the transmission and distribution of natural gas, or the generation, transmission, and distribution of electricity; or (6) communications facilities.

]]> To amend the Internal Revenue Code of 1986 to allow partnerships invested in infrastructure property to be treated as publicly traded partnerships, to reduce the depreciation recovery periods for such property, and for other purposes. Display Title To amend the Internal Revenue Code of 1986 to allow partnerships invested in infrastructure property to be treated as publicly traded partnerships, to reduce the depreciation recovery periods for such property, and for other purposes. Official Title as Introduced To amend the Internal Revenue Code of 1986 to allow partnerships invested in infrastructure property to be treated as publicly traded partnerships, to reduce the depreciation recovery periods for such property, and for other purposes. Introduced in House 2012-02-09T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr4001ih/xml/BILLS-112hr4001ih.xml 2012-02-09 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.