A bill to amend the Internal Revenue Code of 1954 to raise needed additional revenues by repealing certain provisions relating to the allowance for depreciation.

Summary

Repeals the asset depreciation range under the Internal Revenue Code which permitted a variance from the class life of property of 20% for depreciation purposes. States that this Act shall spply only to property constructed, erected, or acquired after the date of enactment. (Amends 26 U.S.C. 167 (m)(l))

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

Timeline

1. 31 May 1973

   Introduced

   Introduced in House

   Source: IntroReferral

2. 31 May 1973

   Introduced

   Introduced in House

   Source: IntroReferral

3. 31 May 1973

   Introduced

   Referred to House Committee on Ways and Means.

   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 · 31 May 1973

  Open at official source

Sponsors

• Rep. Reuss, Henry S. [D-WI-5] · D · Sponsor
• Rep. Adams, Brock [D-WA-7] · D · Cosponsor
• Rep. Moss, John E. [D-CA-3] · D · Cosponsor
• Rep. Thompson, Frank, Jr. [D-NJ-4] · D · Cosponsor
• · hswm00 · Standing

Related records

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