3.0.0 314 2024-07-24T15:23:52Z 2024-07-24T15:23:52Z Senate S S 2023-02-09 118 ssfi00 Finance Committee Senate Standing Referred to 2023-02-09T15:58:15Z ALIGN Act 118 2406 HR 2023-03-30 Referred to the House Committee on Ways and Means. Related bill CRS ALIGN Act 118 1117 S 2023-03-30 Read twice and referred to the Committee on Finance. Related bill CRS American Innovation and R&D Competitiveness Act of 2023 118 2673 HR 2023-04-20 Sponsor introductory remarks on measure. (CR H1898) Related bill CRS 2023-02-09 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2023-02-09 Introduced in Senate IntroReferral 10000 9 Library of Congress C001098 Sen. Cruz, Ted [R-TX] Ted Cruz R TX N Taxation Taxation 2023-02-24T15:00:29Z 00 2023-02-09 Introduced in Senate 2023-02-24T15:20:59Z Cost Recovery and Expensing Acceleration to Transform the Economy and Jumpstart Opportunities for Businesses and Startups Act or the CREATE JOBS Act

This bill allows permanent expensing of qualified property (i.e., property with a recovery period of 20 years or less and that is computer software, water utility property, or film, television, or live theatrical production property). It also modifies depreciation provisions for residential rental property and nonresidential real property.

The bill repeals provisions for the amortization of research and experimental expenditures, thus providing for direct expensing of such expenditures.

]]> CREATE JOBS Act Display Title 45 CREATE JOBS Act 2024-07-24T15:23:52Z Short Title(s) as Introduced 101 Cost Recovery and Expensing Acceleration to Transform the Economy and Jumpstart Opportunities for Businesses and Startups Act 2024-05-24T13:42:38Z Introduced in Senate IS Short Title(s) as Introduced 101 CREATE JOBS Act 2024-05-24T13:42:38Z Introduced in Senate IS Official Title as Introduced 6 A bill to amend the Internal Revenue Code of 1986 to permanently allow a tax deduction at the time an investment in qualified property is made, and for other purposes. 2023-02-23T16:28:52Z Introduced in Senate IS Introduced in Senate 2023-02-09T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s314is/xml/BILLS-118s314is.xml 2023-02-09 Read twice and referred to the Committee on Finance. 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.