3.0.0 3455 2023-01-11T13:37:18Z 2023-01-11T13:37:18Z House HR 2017-07-27 115 [Congressional Record Volume 163, Number 127 (Thursday, July 27, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ABRAHAM:H.R. 3455.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 1 of the United StatesConstitution[Page H6518]]]> hswm00 Ways and Means Committee House Standing Referred to 2017-07-27T14:06:40Z Agriculture Equipment and Machinery Depreciation Act 115 1422 S 2017-06-22 Read twice and referred to the Committee on Finance. Related bill CRS 2017-07-27 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-07-27 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-07-27 Introduced in House IntroReferral 1000 9 Library of Congress A000374 Rep. Abraham, Ralph Lee [R-LA-5] Ralph Abraham R LA Lee 5 N P000258 Rep. Peterson, Collin C. [D-MN-7] COLLIN PETERSON D MN C. 7 2017-07-27 True C001087 Rep. Crawford, Eric A. "Rick" [R-AR-1] Eric Crawford R AR A. "Rick" 1 2017-07-27 True Taxation Agricultural equipment and machinery Business investment and capital Income tax deductions Taxation 00 2017-07-27 Introduced in House 2017-12-26T20:21:48Z 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.

]]> Fairness for Agricultural Machinery and Equipment Act Display Title Fairness for Agricultural Machinery and Equipment Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to treat certain farming business machinery and equipment as 5-year property for purposes of depreciation. Introduced in House IH Short Titles as Introduced Fairness for Agricultural Machinery and Equipment Act Introduced in House 2017-07-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr3455ih/xml/BILLS-115hr3455ih.xml 2017-07-27 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.