[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 2350 Introduced in Senate (IS)]

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114th CONGRESS
  1st Session
                                S. 2350

    To amend the Internal Revenue Code of 1986 to provide for full 
                    expensing of tangible property.


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                   IN THE SENATE OF THE UNITED STATES

                            December 3, 2015

   Mr. Paul introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
    To amend the Internal Revenue Code of 1986 to provide for full 
                    expensing of tangible 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 ``Full Expensing Act of 2015''.

SEC. 2. PERMANENT EXPANSION OF ELECTION TO EXPENSE CERTAIN DEPRECIABLE 
              ASSETS.

    (a) Expansion of Types of Property Subject to Election.--Paragraph 
(1) of section 179(d) of the Internal Revenue Code of 1986 is amended 
to read as follows:
            ``(1) Section 179 property.--For purposes of this section, 
        the term `section 179 property' means property--
                    ``(A) which is--
                            ``(i) tangible property, or
                            ``(ii) computer software (as defined in 
                        section 197(e)(3)(B)) which is described in 
                        section 197(e)(3)(A)(i),
                    ``(B) which is acquired by purchase--
                            ``(i) for use in a trade or business, or
                            ``(ii) for the production of income, and
                    ``(C) which was originally placed in service after 
                the date of the enactment of the Full Expensing Act of 
                2015.''.
    (b) Repeal of Dollar Limitations.--Section 179 of the Internal 
Revenue Code of 1986 is amended by striking subsection (b).
    (c) Conforming Amendments.--Section 179 of such Code is amended--
            (1) in subsection (c)(2), by striking ``and before 2015'', 
        and
            (2) by striking subsections (e) and (f).
    (d) 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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