Fairness for Agricultural Machinery and Equipment Act

Summary

Fairness for Agricultural Machinery and Equipment Act This bill amends the Internal Revenue Code to: (1) make permanent the five-year recovery period for the depreciation of certain farming business machinery and equipment by eliminating the requirement that the property be placed in service before 2010; and (2) expand the machinery and equipment that qualifies as five-year property to include a grain bin, cotton ginning asset, or fence used in a farming business. The original use of the five-year property must commence with the taxpayer after the enactment of this bill.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 July 2017

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• Introduced in House (PDF)

  Introduced in House · EN · 27 July 2017

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• Introduced in House

  summary · EN · 27 July 2017

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