[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4087 Introduced in House (IH)]







107th CONGRESS
  2d Session
                                H. R. 4087

 To amend the Internal Revenue Code of 1986 to provide for an increase 
                    in expensing under section 179.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 9, 2002

 Mr. Manzullo (for himself, Ms. Velazquez, Mr. Portman, Mr. Pence, Mr. 
Terry, Mr. Bartlett of Maryland, Mr. Combest, Mrs. Christensen, and Mr. 
Acevedo-Vila) introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to provide for an increase 
                    in expensing under section 179.

    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 ``Small Business Investment in Growth 
Act of 2002''.

SEC. 2. INCREASE IN SECTION 179 EXPENSING.

    (a) In General.--Paragraph (1) of section 179(b) of the Internal 
Revenue Code of 1986 (relating to limitations) is 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 $40,000.''.
    (b) Increase in Amount of Property Triggering Phaseout of Maximum 
Benefit.--Paragraph (2) of section 179(b) of the Internal Revenue Code 
of 1986 is amended by striking ``$200,000'' and inserting ``$325,000''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2001.
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