[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4474 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 4474

  To amend the Internal Revenue Code of 1986 to treat certain farming 
  business machinery and equipment as 5-year property for purposes of 
                             depreciation.


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                    IN THE HOUSE OF REPRESENTATIVES

                            February 4, 2016

   Mr. Abraham (for himself, Mr. Denham, Mr. Crawford, Mr. Kind, Mr. 
 Lucas, Mr. Bishop of Georgia, Mr. Ashford, Mr. Pompeo, and Mr. Blum) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to treat certain farming 
  business machinery and equipment as 5-year property for purposes of 
                             depreciation.

    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 ``Fairness for Agricultural Machinery 
and Equipment Act''.

SEC. 2. CERTAIN FARMING BUSINESS MACHINERY AND EQUIPMENT TREATED AS 5-
              YEAR PROPERTY.

    (a) In General.--Clause (vii) of section 168(e)(3)(B) of the 
Internal Revenue Code of 1986 is amended by striking ``the original use 
of which commences with the taxpayer after December 31, 2008, and which 
is placed in service before January 1, 2010'' and inserting ``the 
original use of which commences with the taxpayer after the date of the 
enactment of the Fairness for Agricultural Machinery and Equipment 
Act''.
    (b) Effective Date.--The amendments made by this section shall 
apply to property placed in service after the date of the enactment of 
this Act.
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