I 111th CONGRESS 2d Session H. R. 6126 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.

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.