[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4822 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4822

 To amend the Internal Revenue Code of 1986 to provide for 100 percent 
             bonus depreciation for manufacturing property.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 10, 2014

 Mr. Schneider (for himself and Mr. Rice of South Carolina) 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 provide for 100 percent 
             bonus depreciation for manufacturing property.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Accelerate Our Manufacturers Act''.

SEC. 2. 100 PERCENT BONUS FOR MANUFACTURING PROPERTY.

    (a) In General.--Section 168(k) of the Internal Revenue Code of 
1986 is amended by adding at the end the following new paragraph:
            ``(6) Special rule for manufacturing property.--
                    ``(A) In general.--In the case of qualified 
                manufacturing property, paragraph (1)(A) shall be 
                applied by substituting `100 percent' for `50 percent'.
                    ``(B) Qualified manufacturing property.--For 
                purposes of this paragraph--
                            ``(i) In general.--The term `qualified 
                        manufacturing property' means qualified 
                        property which--
                                    ``(I) is acquired by the taxpayer 
                                after December 31, 2013, and before 
                                January 1, 2019, placed in service by 
                                the taxpayer before January 1, 2019, 
                                and
                                    ``(II) used by a manufacturer to 
                                produce an article from new or raw 
                                material, or from scrap, salvage, or 
                                junk material, by processing or 
                                changing the form of an article or by 
                                combining or assembling two or more 
                                articles.
                            ``(ii) Certain rules made inapplicable.--
                        The following provisions shall not apply:
                                    ``(I) Clauses (iii) and (iv) of 
                                paragraph (2)(A).
                                    ``(II) Clause (ii) of paragraph 
                                (2)(B).''.
    (b) Election To Accelerate the AMT.--Section 168(k)(4) of the 
Internal Revenue Code of 1986 is amended by adding at the end the 
following:
                    ``(K) Special rules for qualified manufacturing 
                property.--
                            ``(i) In general.--In the case of qualified 
                        manufacturing property (as defined in paragraph 
                        (6)), in applying this paragraph to any 
                        taxpayer--
                                    ``(I) the limitation described in 
                                subparagraph (B)(i) and the business 
                                credit increase amount under 
                                subparagraph (E)(iii) thereof shall not 
                                apply, and
                                    ``(II) the bonus depreciation 
                                amount, maximum amount, and maximum 
                                increase amount shall be computed 
                                separately.
                            ``(ii) Election.--
                                    ``(I) A taxpayer who has an 
                                election in effect under any preceding 
                                provision of this paragraph shall not 
                                be treated as having an election in 
                                effect for qualified manufacturing 
                                property unless the taxpayer elects to 
                                have this paragraph apply to qualified 
                                manufacturing property.
                                    ``(II) A taxpayer who does not have 
                                an election in effect under any 
                                preceding provision of this paragraph 
                                may elect to have this paragraph apply 
                                to qualified manufacturing property.''.
    (c) Effective Date.--The amendment made by subsection (a) shall 
apply to property placed in service after December 31, 2013.
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