Capital Recovery Act

Summary

Capital Recovery Act - Provides, under the Internal Revenue Code, a deduction for capital recovery to be used in lieu of the existing depreciation deduction at the election of the taxpayer. Defines the property with respect to which such a deduction may be made. Sets forth tables from which the amount of such deduction may be determined based on the acquisition costs of the property and the number of taxable years passed since acquisition. Authorizes the taxpayer to carry a portion of the deduction allowable for one taxable year to succeeding years.

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

Timeline

1. 16 June 1975

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 16 June 1975

   Introduced

   Introduced in House

   Source: IntroReferral

3. 16 June 1975

   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 · 16 June 1975

  Open at official source

Sponsors

• Rep. Burleson, Omar [D-TX-17] · D · Sponsor
• · hswm00 · Standing

Related records

• related to → Capital Recovery Act