A bill to amend the Internal Revenue Code of 1954 to permit the accelerated depreciation of property placed in service in areas of high unemployment.

Summary

Amends the Internal Revenue Code to allow taxpayers to amortize over 60 months, or in the case of a building, over one-half of its useful life, property placed in service after December 31, 1976, and before January 1, 1980, in an area in which the rate of unemployment is seven percent or greater.

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

Timeline

1. 11 February 1977

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 11 February 1977

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 11 February 1977

  Open at official source

Sponsors

• Sen. Baker, Howard H., Jr. [R-TN] · R · Sponsor
• Sen. Javits, Jacob K. [R-NY] · R · Cosponsor
• Sen. Domenici, Pete V. [R-NM] · R · Cosponsor
• Sen. Percy, Charles H. [R-IL] · R · Cosponsor
• Sen. Bellmon, Henry L. [R-OK] · R · Cosponsor
• Sen. Chafee, John H. [R-RI] · R · Cosponsor
• Sen. Curtis, Carl T. [R-NE] · R · Cosponsor
• Sen. Danforth, John C. [R-MO] · R · Cosponsor
• Sen. Griffin, Robert P. [R-MI] · R · Cosponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Cosponsor
• Sen. Hayakawa, Samuel Ichiye [R-CA] · R · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• Sen. McClure, James A. [R-ID] · R · Cosponsor
• Sen. Schmitt, Harrison H. [R-NM] · R · Cosponsor
• Sen. Schweiker, Richard S. [R-PA] · R · Cosponsor
• Sen. Young, Milton R. [R-ND] · R · Cosponsor
• Sen. Heinz, John [R-PA] · R · Cosponsor
• Sen. Wallop, Malcolm [R-WY] · R · Cosponsor
• · ssfi00 · Standing

Related records

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