Jets for Vets Act of 2012

Summary

Closing Corporate Jet Tax Loopholes to Employ Veterans Act of 2012 or the Jets for Vets Act of 2012 - Amends the Internal Revenue Code to classify general aviation aircraft as seven-year property for purposes of the depreciation tax deduction (currently, expenses for aircraft can be deducted or expensed in the current taxable year). Defines "general aviation aircraft" as any airplane or helicopter not used in commercial or contract carrying of passengers or freight, but which primarily engages in the carrying of passengers. Increases the work opportunity tax credit for the hiring of veterans by increasing the dollar limitation on veteran wages eligible for such credit with revenue saved from the depreciation reclassification of general aviation aircraft by this Act.

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Timeline

1. 16 March 2012

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 16 March 2012

   Introduced

   Introduced in House

   Source: IntroReferral

3. 16 March 2012

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 16 March 2012 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 16 March 2012

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 16 March 2012

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 16 March 2012

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Rigell, E. Scott [R-VA-2] · R · Sponsor
• Rep. Scott, Robert C. "Bobby" [D-VA-3] · D · Cosponsor
• Del. Bordallo, Madeleine Z. [D-GU-At Large] · D · Cosponsor
• Rep. Deutch, Theodore E. [D-FL-22] · D · Cosponsor
• Rep. Chu, Judy [D-CA-28] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Investing in American Innovation Act of 2012