[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3231 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 3231

   To amend the Internal Revenue Code of 1986 to increase the amount 
           allowed as a deduction for start-up expenditures.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 14, 2011

Mr. Meehan (for himself, Mr. Connolly of Virginia, Mr. Carney, and Mr. 
   Stivers) 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 increase the amount 
           allowed as a deduction for start-up expenditures.

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

SECTION 1. INCREASE IN AMOUNT ALLOWED AS DEDUCTION FOR START-UP 
              EXPENDITURES.

    (a) In General.--Paragraph (3) of section 195(b) of the Internal 
Revenue Code of 1986 is amended to read as follows:
            ``(3) Special rule for taxable years beginning in 2011, 
        2012, 2013, or 2014.--In the case of a taxable year beginning 
        in 2011, 2013, or 2014, paragraph (1)(A)(ii) shall be applied--
                    ``(A) by substituting `$20,000' for `$5,000', and
                    ``(B) by substituting `$75,000' for `$50,000'.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to amounts paid or incurred in taxable years beginning after 
December 31, 2010.
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