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United States · Bill · HR

H.R. 6617 (96th)

Small Business Capital Incentive Act of 1980

referredUnited States· United States Congress· EN

Introduced

26 February 1980

Last action

26 February 1980 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Nowak, Henry [D-NY-37], Rep. Kogovsek, Ray [D-CO-3], Rep. Fish, Hamilton, Jr. [R-NY-25], Rep. Lungren, Daniel E. [R-CA-42], Rep. Whitehurst, G. William [R-VA-2], Rep. Forsythe, Edwin B. [R-NJ-6], Rep. Benjamin, Adam, Jr. [D-IN-1], Rep. Roe, Robert A. [D-NJ-8], Rep. Porter, John Edward [R-IL-10], Rep. Bonior, David E. [D-MI-12], Rep. Grisham, Wayne R. [R-CA-33], Rep. Howard, James J. [D-NJ-3], Rep. Wilson, Charles [D-TX-2], JOHN CONYERS, Rep. Buchanan, John [R-AL-6], Rep. Pritchard, Joel [R-WA-1], Rep. Hughes, William J. [D-NJ-2], Rep. Gray, William H., III [D-PA-2], Rep. Neal, Stephen L. [D-NC-5], Sen. Mikulski, Barbara A. [D-MD], Rep. LaFalce, John J. [D-NY-36], Rep. Jenrette, John W., Jr. [D-SC-6], Rep. Jeffords, James M. [R-VT-At Large], Rep. Murphy, Austin J. [D-PA-22], Rep. Mottl, Ronald M. [D-OH-23], Rep. Bedell, Berkley W. [D-IA-6], Rep. Pepper, Claude [D-FL-14], Rep. Wyatt, Joe, Jr. [D-TX-14], Rep. Gudger, V. Lamar [D-NC-11], Rep. Leach, Claude (Buddy), Jr. [D-LA-4], Rep. Hollenbeck, Harold C. [R-NJ-9], Rep. Guarini, Frank J. [D-NJ-14], Rep. Railsback, Thomas F. [R-IL-19], Rep. Bailey, Donald A. [D-PA-21], Rep. Goldwater, Barry, Jr. [R-CA-20], Rep. Hinson, Jon C. [R-MS-4], Rep. Addabbo, Joseph P. [D-NY-7], Rep. Barnes, Michael D. [D-MD-8], Rep. Mitchell, Donald J. [R-NY-31], Rep. Dornan, Robert K. [R-CA-38], Rep. Fazio, Vic [D-CA-4], Rep. Barnard, Doug, Jr. [D-GA-10], Rep. Smith, Neal Edward [D-IA-4], Rep. Hall, Tony P. [D-OH-3], Rep. Wolpe, Howard E. [D-MI-3], Rep. Swift, Al [D-WA-2], Rep. Sawyer, Harold S. [R-MI-5], Rep. Marks, Marc L. [R-PA-24]

Subjects

Discovery layer

Source updated

2 September 2025

Official sourceView documentsShare

Summary

Small Business Capital Incentive Act of 1980 - Amends the Internal Revenue Code to permit a taxpayer to elect shorter useful lives for buildings and business machinery in computing the allowance for depreciation. Specifies that the taxpayer may elect a useful life of 15 years in the case of a building and its structural components, and four years in the case of business machinery eligible for the investment tax credit. Imposes a $3,000,000 basic limit for buildings and a $1,000,000 limit for machinery eligible for the election provided by this Act. Reduces from seven to three years the useful life of investment tax credit property which is eligible for the full amount of such credit.

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

Timeline

  1. 26 February 1980

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 26 February 1980

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 26 February 1980

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

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Documents

1 official file

Sponsors

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Related records

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Sources

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