[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 76 Introduced in Senate (IS)]







105th CONGRESS
  1st Session
                                 S. 76

 To amend the Internal Revenue Code of 1986 to increase the expensing 
                        limitation to $250,000.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 21, 1997

    Mr. Kyl introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to increase the expensing 
                        limitation to $250,000.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Invest More in America Act''.

SEC. 2. INCREASE IN EXPENSING LIMITATION TO $250,000.

    (a) In General.--Paragraphs (1) and (2) of section 179(b) of the 
Internal Revenue Code of 1986 (relating to limitations) are amended to 
read as follows:
            ``(1) Dollar limitation.--The aggregate cost which may be 
        taken into account under subsection (a) for any taxable year 
        shall not exceed $250,000.
            ``(2) Inflation adjustment.--In the case of a taxable year 
        beginning in a calendar year after 1998, the dollar amount 
        under paragraph (1) shall be increased by an amount equal to 
        such dollar amount multiplied by the cost-of-living adjustment 
        determined under section 1(f)(3) for the calendar year in which 
        the taxable year begins, determined by substituting `1997' for 
        `1992' in subparagraph (B) thereof. Any such amount which is 
        not a multiple of $50 shall be rounded to the next lowest 
        multiple of $50.''.
    (b) Effective Date.--The amendments made by this section apply to 
property placed in service in taxable years ending after the date of 
enactment of this Act.
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