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.
Introduced
25 September 1979
Last action
—
Status
Referred to House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
7 February 2024
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.
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Votes
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Versions
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Documents
1 official file
Introduced in House
summary · EN · 25 September 1979
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/96th-congress/house-bill/5394
- Open data entity: https://api.congress.gov/v3/bill/96/hr/5394