II 110th CONGRESS 1st Session S. 299 IN THE SENATE OF THE UNITED STATES January 16, 2007 Mr. Coleman 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 extend increased expensing for small businesses.

1.

Extension of increased expensing for small businesses

(a)

Extension

Section 179 of the Internal Revenue Code of 1986 (relating to election to expense certain depreciable business assets) is amended by striking 2010 each place it appears and inserting 2011. (b)

Effective Date

The amendment made by this section shall apply to taxable years beginning after December 31, 2009.