A bill to amend the Internal Revenue Code of 1954 to raise the needed additional revenues by repealing certain provisions relating to the allowance for depreciation.

referredUnited States· United States Congress· EN

Introduced

25 April 1974

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Repeals the asset depreciation range under the Internal Revenue Code which permitted a variance from the class life of property of 20 percent for depreciation purposes. States that this Act shall apply only to property constructed, erected, or acquired after the date of enactment of this Act. (Amends 26 U.S.C. 167 (m) (1))

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Introduced in House
summary · EN · 25 April 1974
Open at official source

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/93rd-congress/house-bill/14390
Open data entity: https://api.congress.gov/v3/bill/93/hr/14390