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United States · Bill · HR

H.R. 5394 (96th)

A bill to amend the Internal Revenue Code of 1954 to allow the rapid amortization of federally required capital expenditures.

referredUnited States· United States Congress· EN

Introduced

25 September 1979

Last action

25 September 1979 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Atkinson, Eugene V. [D-PA-25], Rep. Gaydos, Joseph M. [D-PA-20], Rep. Daniel, W. C. (Dan) [D-VA-5], Rep. Davis, Robert W. [R-MI-11], Rep. Murphy, Austin J. [D-PA-20], Rep. Bailey, Donald A. [D-PA-21], Rep. Benjamin, Adam, Jr. [D-IN-1], Rep. Yatron, Gus [D-PA-6], Rep. Walgren, Doug [D-PA-18], Rep. Leach, Claude (Buddy), Jr. [D-LA-4], Rep. Albosta, Donald J. [D-MI-10], Rep. Applegate, Douglas [D-OH-18], Rep. Ertel, Allen E. [D-PA-17], Rep. Kemp, Jack [R-NY-31], Rep. Hutto, Earl [D-FL-1], Rep. Kindness, Thomas N. [R-OH-8], Rep. Kramer, Ken [R-CO-5], Rep. Mottl, Ronald M. [D-OH-23], Rep. Bevill, Tom [D-AL-4], Rep. Stanton, J. William [R-OH-11], Rep. Rahall, Nick J., II [D-WV-3], Rep. Fithian, Floyd J. [D-IN-2], Rep. Guyer, Tennyson [R-OH-4], Rep. Addabbo, Joseph P. [D-NY-6], Rep. Flood, Daniel J. [D-PA-11], Rep. Fazio, Vic [D-CA-3], Rep. Coughlin, Lawrence [R-PA-13], Rep. Jenrette, John W., Jr. [D-SC-6], Rep. Roe, Robert A. [D-NJ-8], Rep. Reuss, Henry S. [D-WI-5], Rep. Slack, John [D-WV-3], Rep. Zeferetti, Leo C. [D-NY-15], Rep. Marks, Marc L. [R-PA-24], Rep. Ford, William D. [D-MI-13], Rep. Kogovsek, Ray [D-CO-3]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to allow an income tax deduction with respect to the amortization, based on a period of 12 months, of federally required property. Defines "federally required property" as any depreciable property which the taxpayer uses in connection with his business plant or facility, the installation of which is required by Federal or State law.

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

Timeline

  1. 25 September 1979

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 25 September 1979

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 25 September 1979

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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