[Pages S4965-S4966]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3685. Ms. COLLINS (for herself and Mr. Casey) submitted an 
amendment intended to be proposed by her to the bill S. 2569, to 
provide an incentive for businesses to bring jobs back to America; 
which was ordered to lie on the table; as follows:

       At the end, insert the following:

     SEC. 4. PERMANENT DOUBLING OF DEDUCTIONS FOR START-UP 
                   EXPENSES, ORGANIZATIONAL EXPENSES, AND 
                   SYNDICATION FEES.

       (a) Start-Up Expenses.--
       (1) In general.--Clause (ii) of section 195(b)(1)(A) of the 
     Internal Revenue Code of 1986 is amended--
       (A) by striking ``$5,000'' and inserting ``$10,000'', and
       (B) by striking ``$50,000'' and inserting ``$60,000''.
       (2) Conforming amendment.--Subsection (b) of section 195 of 
     the Internal Revenue Code of 1986 is amended by striking 
     paragraph (3).
       (b) Organizational Expenses.--Subparagraph (B) of section 
     248 of the Internal Revenue Code of 1986 is amended--
       (1) by striking ``$5,000'' and inserting ``$10,000'', and
       (2) by striking ``$50,000'' and inserting ``$60,000''.
       (c) Organization and Syndication Fees.--Clause (ii) of 
     section 709(b)(1)(A) of the Internal Revenue Code of 1986 is 
     amended--
       (1) by striking ``$5,000'' and inserting ``$10,000'', and
       (2) by striking ``$50,000'' and inserting ``$60,000''.
       (d) Effective Date.--The amendments made by this section 
     shall apply to amounts paid or incurred in taxable years 
     ending on or after the date of the enactment of this Act.

     SEC. 5. CLARIFICATION OF CASH ACCOUNTING RULES FOR SMALL 
                   BUSINESS.

       (a) Cash Accounting Permitted.--
       (1) In general.--Section 446 of the Internal Revenue Code 
     of 1986 (relating to general rule for methods of accounting) 
     is amended by adding at the end the following new subsection:
       ``(g) Certain Small Business Taxpayers Permitted To Use 
     Cash Accounting Method Without Limitation.--
       ``(1) In general.--An eligible taxpayer shall not be 
     required to use an accrual method of accounting for any 
     taxable year.
       ``(2) Eligible taxpayer.--For purposes of this subsection, 
     a taxpayer is an eligible taxpayer with respect to any 
     taxable year if--
       ``(A) for all prior taxable years beginning after December 
     31, 2013, the taxpayer (or any predecessor) met the gross 
     receipts test of section 448(c), and
       ``(B) the taxpayer is not subject to section 447 or 448.''.
       (2) Expansion of gross receipts test.--
       (A) In general.--Paragraph (3) of section 448(b) of such 
     Code (relating to entities with gross receipts of not more 
     than $5,000,000) is amended by striking ``$5,000,000'' in the 
     text and in the heading and inserting ``$10,000,000''.
       (B) Conforming amendments.--Section 448(c) of such Code is 
     amended--
       (i) by striking ``$5,000,000'' each place it appears in the 
     text and in the heading of paragraph (1) and inserting 
     ``$10,000,000'', and
       (ii) by adding at the end the following new paragraph:
       ``(4) Inflation adjustment.--In the case of any taxable 
     year beginning in a calendar year after 2014, the dollar 
     amount contained in subsection (b)(3) and paragraph (1) of 
     this subsection shall be increased by an amount equal to--
       ``(A) such dollar amount, multiplied by
       ``(B) the cost-of-living adjustment determined under 
     section 1(f)(3) for the calendar year in which the taxable 
     year begins, by substituting `calendar year 2013' for 
     `calendar year 1992' in subparagraph (B) thereof.
     If any amount as adjusted under this subparagraph is not a 
     multiple of $100,000, such amount shall be rounded to the 
     nearest multiple of $100,000.''.
       (b) Clarification of Inventory Rules for Small Business.--
       (1) In general.--Section 471 of the Internal Revenue Code 
     of 1986 (relating to general rule for inventories) is amended 
     by redesignating subsection (c) as subsection (d) and by 
     inserting after subsection (b) the following new subsection:
       ``(c) Small Business Taxpayers Not Required To Use 
     Inventories.--
       ``(1) In general.--A qualified taxpayer shall not be 
     required to use inventories under this section for a taxable 
     year.
       ``(2) Treatment of taxpayers not using inventories.--If a 
     qualified taxpayer does not use inventories with respect to 
     any property for any taxable year beginning after December 
     31, 2013, such property shall be treated as a material or 
     supply which is not incidental.
       ``(3) Qualified taxpayer.--For purposes of this subsection, 
     the term `qualified taxpayer' means--
       ``(A) any eligible taxpayer (as defined in section 
     446(g)(2)), and
       ``(B) any taxpayer described in section 448(b)(3).''.
       (2) Increased eligibility for simplified dollar-value lifo 
     method.--Section 474(c) is amended by striking ``$5,000,000'' 
     and inserting ``the dollar amount in effect under section 
     448(c)(1)''.
       (c) Effective Date and Special Rules.--
       (1) In general.--The amendments made by this section shall 
     apply to taxable years beginning after December 31, 2013.
       (2) Change in method of accounting.--In the case of any 
     taxpayer changing the taxpayer's method of accounting for any 
     taxable year under the amendments made by this section--
       (A) such change shall be treated as initiated by the 
     taxpayer;
       (B) such change shall be treated as made with the consent 
     of the Secretary of the Treasury; and
       (C) the net amount of the adjustments required to be taken 
     into account by the taxpayer under section 481 of the 
     Internal Revenue Code of 1986 shall be taken into account 
     over a period (not greater than 4 taxable years) beginning 
     with such taxable year.

     SEC. 6. PERMANENT EXTENSION OF EXPENSING LIMITATION.

       (a) Dollar Limitation.--Section 179(b)(1) of the Internal 
     Revenue Code of 1986 is amended by striking ``shall not 
     exceed'' and all that follows and inserting ``shall not 
     exceed $250,000.''.
       (b) Reduction in Limitation.--Section 179(b)(2) of such 
     Code is amended by striking ``exceeds'' and all that follows 
     and inserting ``exceeds $800,000.''.
       (c) Inflation Adjustment.--Subsection (b) of section 179 of 
     such Code is amended by adding at the end the following new 
     paragraph:
       ``(6) Inflation adjustment.--
       ``(A) In general.--In the case of any taxable year 
     beginning in a calendar year after 2014, the $250,000 in 
     paragraph (1) and the $800,000 amount in paragraph (2) shall 
     each be increased by an amount equal to--
       ``(i) such dollar amount, multiplied by
       ``(ii) the cost-of-living adjustment determined under 
     section 1(f)(3) for the calendar year in which the taxable 
     year begins, by substituting `calendar year 2013' for 
     `calendar year 1992' in subparagraph (B) thereof.
       ``(B) Rounding.--
       ``(i) Dollar limitation.--If the amount in paragraph (1) as 
     increased under subparagraph (A) is not a multiple of $1,000, 
     such amount shall be rounded to the nearest multiple of 
     $1,000.
       ``(ii) Phaseout amount.--If the amount in paragraph (2) as 
     increased under subparagraph (A) is not a multiple of 
     $10,000, such amount shall be rounded to the nearest multiple 
     of $10,000.''.
       (d) Computer Software.--Section 179(d)(1)(A)(ii) of such 
     Code is amended by striking ``and before 2014''.
       (e) Election.--Section 179(c)(2) of such Code is amended by 
     striking ``and before 2014''.
       (f) Special Rules for Treatment of Qualified Real 
     Property.--
       (1) In general.--Section 179(f)(1) of such Code is amended 
     by striking ``beginning in 2010, 2011, 2012, or 2013'' and 
     inserting ``beginning after 2009''.
       (2) Conforming amendment.--Section 179(f) of such Code is 
     amended by striking paragraph (4).
       (g) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2013.

     SEC. 7. EXTENSION OF BONUS DEPRECIATION.

       (a) In General.--Paragraph (2) of section 168(k) of the 
     Internal Revenue Code of 1986 is amended--
       (1) by striking ``January 1, 2015'' in subparagraph (A)(iv) 
     and inserting ``January 1, 2016'', and
       (2) by striking ``January 1, 2014'' each place it appears 
     and inserting ``January 1, 2015''.
       (b) Special Rule for Federal Long-Term Contracts.--Clause 
     (ii) of section 460(c)(6)(B) of the Internal Revenue Code of 
     1986 is amended by striking ``January 1, 2014 (January 1, 
     2015'' and inserting ``January 1, 2015 (January 1, 2016''.
       (c) Conforming Amendments.--
       (1) The heading for subsection (k) of section 168 of the 
     Internal Revenue Code of 1986 is amended by striking 
     ``January 1, 2014'' and inserting ``January 1, 2015''.
       (2) The heading for clause (ii) of section 168(k)(2)(B) of 
     such Code is amended by striking ``Pre-january 1, 2014'' and 
     inserting ``Pre-january 1, 2015''.
       (3) Section 168(k)(4)(D) is amended by striking ``and'' at 
     the end of clause (ii), by striking the period at the end of 
     clause (iii) and inserting a comma, and by adding at the end 
     the following new clauses:
       ``(iv) `January 1, 2015' shall be substituted for `January 
     1, 2016' in subparagraph (A)(iv) thereof, and
       ``(v) `January 1, 2014' shall be substituted for `January 
     1, 2015' each place it appears in subparagraph (A) 
     thereof.''.
       (4) Section 168(l)(4) of such Code is amended by striking 
     ``and'' at the end of subparagraph (A), by redesignating 
     subparagraph (B) as subparagraph (C), and by inserting after 
     subparagraph (A) the following new subparagraph:
       ``(B) by substituting `January 1, 2014' for `January 1, 
     2015' in clause (i) thereof, and''.
       (5) Subparagraph (C) of section 168(n)(2) of such Code is 
     amended by striking ``January 1, 2014'' and inserting 
     ``January 1, 2015''.
       (6) Subparagraph (D) of section 1400L(b)(2) of such Code is 
     amended by striking ``January 1, 2014'' and inserting 
     ``January 1, 2015''.

[[Page S4966]]

       (7) Subparagraph (B) of section 1400N(d)(3) of such Code is 
     amended by striking ``January 1, 2014'' and inserting 
     ``January 1, 2015''.
       (d) Effective Date.--The amendments made by this section 
     shall apply to property placed in service after December 31, 
     2013, in taxable years ending after such date.

     SEC. 8. EXTENSION OF 15-YEAR STRAIGHT-LINE COST RECOVERY FOR 
                   QUALIFIED LEASEHOLD IMPROVEMENTS, QUALIFIED 
                   RESTAURANT BUILDINGS AND IMPROVEMENTS, AND 
                   QUALIFIED RETAIL IMPROVEMENTS.

       (a) In General.--Clauses (iv), (v), and (ix) of section 
     168(e)(3)(E) of the Internal Revenue Code of 1986 are each 
     amended by striking ``January 1, 2014'' and inserting 
     ``January 1, 2015''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to property placed in service after December 31, 
     2013.
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