[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3213 Introduced in House (IH)]
114th CONGRESS
1st Session
H. R. 3213
To amend the Internal Revenue Code of 1986 to make 100 percent bonus
depreciation permanent.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
July 23, 2015
Mr. Williams 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 make 100 percent bonus
depreciation permanent.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Fixed Asset Relief Act of 2015''.
SEC. 2. BONUS DEPRECIATION INCREASED TO 100 PERCENT AND MADE PERMANENT.
(a) Increase.--Section 168(k)(1)(A) of the Internal Revenue Code of
1986 is amended by striking ``50 percent'' and inserting ``100
percent''.
(b) Made Permanent.--Section 168(k)(2) of the Internal Revenue Code
of 1986 is amended to read as follows:
``(2) Qualified property.--For purposes of this
subsection--
``(A) In general.--The term `qualified property'
means property--
``(i)(I) to which this section applies
which has a recovery period of 20 years or
less,
``(II) which is computer software (as
defined in section 167(f)(1)(B)) for which a
deduction is allowable under section 167(a)
without regard to this subsection,
``(III) which is water utility property, or
``(IV) which is qualified leasehold
improvement property, and
``(ii) the original use of which commences
with the taxpayer.
``(B) Exception for alternative depreciation
property.--The term `qualified property' shall not
include any property to which the alternative
depreciation system under subsection (g) applies,
determined--
``(i) without regard to paragraph (7) of
subsection (g) (relating to election to have
system apply), and
``(ii) after application of section 280F(b)
(relating to listed property with limited
business use).
``(C) Special rules.--
``(i) Sale-leasebacks.--For purposes of
clause (ii) and subparagraph (A)(ii), if
property is--
``(I) originally placed in service
by a person, and
``(II) sold and leased back by such
person within 3 months after the date
such property was originally placed in
service,
such property shall be treated as originally
placed in service not earlier than the date on
which such property is used under the leaseback
referred to in subclause (II).
``(ii) Syndication.--For purposes of
subparagraph (A)(ii), if--
``(I) property is originally placed
in service by the lessor of such
property,
``(II) such property is sold by
such lessor or any subsequent purchaser
within 3 months after the date such
property was originally placed in
service (or, in the case of multiple
units of property subject to the same
lease, within 3 months after the date
the final unit is placed in service, so
long as the period between the time the
first unit is placed in service and the
time the last unit is placed in service
does not exceed 12 months), and
``(III) the user of such property
after the last sale during such 3-month
period remains the same as when such
property was originally placed in
service,
such property shall be treated as originally
placed in service not earlier than the date of
such last sale.
``(D) Coordination with section 280f.--For purposes
of section 280F--
``(i) Automobiles.--In the case of a
passenger automobile (as defined in section
280F(d)(5)) which is qualified property, the
Secretary shall increase the limitation under
section 280F(a)(1)(A)(i) by $8,000.
``(ii) Listed property.--The deduction
allowable under paragraph (1) shall be taken
into account in computing any recapture amount
under section 280F(b)(2).
``(iii) Inflation adjustment.--In the case
of any taxable year beginning in a calendar
year after 2015, the $8,000 amount in clause
(i) shall be increased by an amount equal to--
``(I) such dollar amount,
multiplied by
``(II) the automobile price
inflation adjustment determined under
section 280F(d)(7)(B)(i) for the
calendar year in which such taxable
year begins by substituting `2014' for
`1987' in subclause (II) thereof.
If any increase under the preceding sentence is
not a multiple of $100, such increase shall be
rounded to the nearest multiple of $100.
``(E) Deduction allowed in computing minimum tax.--
For purposes of determining alternative minimum taxable
income under section 55, the deduction under section
167 for qualified property shall be determined without
regard to any adjustment under section 56.''.
(c) Effective Date.--The amendments made by this section shall
apply to property placed in service after December 31, 2014.
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