Accounting Cost Recovery Simplification Act of 1983

Summary

Accounting Cost Recovery Simplification Act of 1983 - Amends the Internal Revenue Code to establish a recovery account system for calculating the depreciation deduction under the accelerated cost recovery system for three and five year personal property. Determines the recovery deduction each year by computing a percentage of the amount in the recovery account. Sets forth rules and guidelines for the maintenance and operation of the recovery accounts.

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

Timeline

1. 3 August 1983

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 3 August 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 22 August 1983

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department.

   Source: Committee

4. 24 February 1984

   Committee

   Subcommittee on Taxation and Debt Management. Hearings held.

   Source: Committee

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 · 3 August 1983

  Open at official source

Sponsors

• Sen. Bentsen, Lloyd M. [D-TX] · D · Sponsor
• Sen. Wallop, Malcolm [R-WY] · R · Sponsor
• Sen. Symms, Steven D. [R-ID] · R · Sponsor
• Sen. Bradley, Bill [D-NJ] · D · Sponsor
• Sen. Grassley, Chuck [R-IA] · R · Sponsor
• Sen. Mitchell, George J. [D-ME] · D · Sponsor
• Sen. Durenberger, Dave [R-MN] · R · Sponsor
• Sen. Baucus, Max [D-MT] · D · Sponsor
• Sen. Matsunaga, Spark M. [D-HI] · D · Cosponsor
• Sen. Roth Jr., William V. [R-DE] · R · Cosponsor
• Sen. Pryor, David H. [D-AR] · D · Cosponsor
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.