A bill to amend the Internal Revenue Code of 1954 to provide that the retirement-replacement-betterment method of accounting for property used by a common carrier (including a railroad switching company or a terminal company) is an acceptable method for determining depreciation allowances for income tax purposes.

Summary

Amends the Internal Revenue Code to permit common carriers by railroad (including a railroad switching company or a terminal company) to use the retirement-replacement-betterment method of accounting for determining depreciation allowances for income tax deduction purposes.

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

Timeline

1. 9 July 1979

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 9 July 1979

   Introduced

   Introduced in Senate

   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 Senate

  summary · EN · 9 July 1979

  Open at official source

Sponsors

• Sen. Dole, Robert J. [R-KS] · R · Sponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Cosponsor
• Sen. Boren, David L. [D-OK] · D · Cosponsor
• Sen. Danforth, John C. [R-MO] · R · Cosponsor
• Sen. Packwood, Bob [R-OR] · R · Cosponsor
• Sen. Wallop, Malcolm [R-WY] · R · Cosponsor
• Sen. Talmadge, Herman E. [D-GA] · D · Cosponsor
• Sen. Durenberger, Dave [R-MN] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to provide that the retirement-replacement-betterment method of accounting for property used by a common carrier (including a railroad switching company or a terminal company) is an acceptable method for determining depreciation allowances for income tax purposes.