[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6126 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 6126

  To provide for 100 percent expensing for capital property placed in 
        service on or after September 8, 2010, and before 2012.


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                    IN THE HOUSE OF REPRESENTATIVES

                           September 15, 2010

Mr. Garamendi introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To provide for 100 percent expensing for capital property placed in 
        service on or after September 8, 2010, and before 2012.

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

SECTION 1. 100 PERCENT EXPENSING FOR CAPITAL PROPERTY PLACED IN SERVICE 
              ON OR AFTER SEPTEMBER 8, 2010, AND BEFORE 2012.

    (a) In General.--Section 179 of the Internal Revenue Code of 1986 
(relating to election to expense certain depreciable business assets) 
is amended by adding at the end the following new subsection:
    ``(f) Special Rules for 100 Percent Expensing Period.--
            ``(1) In general.--In the case of property placed in 
        service on or after September 8, 2010, and before January 1, 
        2012, subsection (b) shall not apply.
            ``(2) Application of section for periods prior to september 
        8.--In the case of any taxable year which includes September 8, 
        2010, for the portion of such taxable year prior to September 
        8, each of the dollar amounts in subsections (b) and (e) shall 
        be reduced by the amount which bears the same ratio to such 
        dollar amount as the number of days in such portion of the 
        taxable year bears to 365.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to property placed in service on or after September 31, 2010.
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