A bill to amend the Internal Revenue Code of 1954 to allow taxpayers to treat certain federally required nonproductive expenditures as not chargeable to capital account and as currently deductible.

referredUnited States· United States Congress· EN

Introduced

24 February 1978

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to allow taxpayers to deduct all current expenditures for plants and facilities which are otherwise chargeable to capital account and which are certified as required by Federal law and as not significantly increasing the plant's or facility's value or productivity.

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Votes

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Versions

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Documents

1 official file

Introduced in House
summary · EN · 24 February 1978
Open at official source

Related records

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/house-bill/11149
Open data entity: https://api.congress.gov/v3/bill/95/hr/11149