[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 2822 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 2822

 To amend the Internal Revenue Code of 1986 to provide additional tax 
          relief for small businesses, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                            December 1, 2009

Ms. Snowe (for herself and Ms. Landrieu) 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 provide additional tax 
          relief for small businesses, and for other purposes.

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

SECTION 1. SHORT TITLE; AMENDMENT OF 1986 CODE; TABLE OF CONTENTS.

    This Act may be cited as the ``Small Business Expensing Permanency 
Act''.

SEC. 2. PERMANENT INCREASE IN LIMITATIONS ON EXPENSING OF CERTAIN 
              DEPRECIABLE BUSINESS ASSETS.

    (a) In General.--Subsection (b) of section 179 of the Internal 
Revenue Code of 1986 (relating to limitations) is amended--
            (1) by striking ``$25,000'' and all that follows in 
        paragraph (1) and inserting ``$250,000.'',
            (2) by striking ``$200,000'' and all that follows in 
        paragraph (2) and inserting ``$800,000'',
            (3) by striking ``after 2007 and before 2011, the $120,000 
        and $500,000'' in paragraph (5)(A) and inserting ``after 2009, 
        the $250,000 and the $800,000'',
            (4) by striking ``2006'' in paragraph (5)(A)(ii) and 
        inserting ``2008'', and
            (5) by striking paragraph (7).
    (b) Permanent Expensing of Computer Software.--Section 
179(d)(1)(A)(ii) of the Internal Revenue Code of 1986 (defining section 
179 property) is amended by striking ``and before 2011''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2008.
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