A bill to amend the Internal Revenue Code of 1954 to deny the benefits of the accelerated cost recovery system to any business which does not expand its employment.

Summary

Amends the Internal Revenue Code to provide that the accelerated cost recovery deduction shall not exceed the depreciation available under the asset depreciation range system or 200 percent of the wages paid to new employees. Provides an exception from such requirement for small businesses whose depreciation deduction does not exceed $5,000.

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Timeline

1. 29 November 1982

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 29 November 1982

   Introduced

   Introduced in House

   Source: IntroReferral

3. 29 November 1982

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 29 November 1982

  Open at official source

Sponsors

• Rep. Bennett, Charles E. [D-FL-3] · D · Sponsor
• · hswm00 · Standing

Related records

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