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.

Summary

Amends the Internal Revenue Code to allow taxpayers to deduct from gross income in the current taxable year all expenditures for business plants or facilities which are required by Federal law and which are otherwise chargeable to capital account, but which do not significantly increase the value or productivity of such plants or facilities.

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

Timeline

1. 15 January 1979

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 15 January 1979

   Introduced

   Introduced in House

   Source: IntroReferral

3. 15 January 1979

   Introduced

   Introduced in House

   Source: IntroReferral

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 · 15 January 1979

  Open at official source

Sponsors

• Rep. Hillis, Elwood H. [R-IN-5] · R · Sponsor
• Rep. Bevill, Tom [D-AL-4] · D · Cosponsor
• · hswm00 · Standing

Related records

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