[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3318 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 3318

   To require the Secretary of the Treasury to modify regulations to 
    increase the amount of the de minimis safe harbor election for 
   exemption from capital expenditures for taxpayers without certain 
                         financial statements.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 29, 2015

 Mr. Blum (for himself and Mr. Cramer) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To require the Secretary of the Treasury to modify regulations to 
    increase the amount of the de minimis safe harbor election for 
   exemption from capital expenditures for taxpayers without certain 
                         financial statements.

    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 ``Reducing Tax Preparation Burdens for 
American Investments and Repairs Act''.

SEC. 2. INCREASE IN DE MINIMIS SAFE HARBOR ELECTION FOR EXEMPTIONS FROM 
              CAPITAL EXPENDITURES FOR TAXPAYERS WITHOUT CERTAIN 
              FINANCIAL STATEMENTS.

    (a) In General.--Not later than 6 months after the date of the 
enactment of this Act, the Secretary of the Treasury shall modify 
Treasury Regulation section 1.263(a)-1(f) (26 C.F.R. 1.263(a)-1(f)) to 
increase the $500 de minimis rule for taxpayers without applicable 
financial statements to $2,500.
    (b) Effective Date.--The revised regulations under this section 
shall apply to amounts paid or incurred in taxable years beginning 
after December 31, 2015.
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