HR 158

112th CONGRESS
1st Session

H. R. 158

To amend the Internal Revenue Code of 1986 to repeal certain limitations on the expensing of section 179 property, to allow taxpayers to elect shorter recovery periods for purposes of determining the deduction for depreciation, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

January 5, 2011

Mr. SESSIONS introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Internal Revenue Code of 1986 to repeal certain limitations on the expensing of section 179 property, to allow taxpayers to elect shorter recovery periods for purposes of determining the deduction for depreciation, and for other purposes.

SECTION 1. SHORT TITLE.

SEC. 2. REPEAL OF CERTAIN LIMITATIONS ON THE EXPENSING OF SECTION 179 PROPERTY.

SEC. 3. ELECTION OF SHORTER RECOVERY PERIOD FOR PURPOSE OF DETERMINING DEPRECIATION DEDUCTION.

END