Text: H.R.6126 — 111th Congress (2009-2010)All Information (Except Text)

There is one version of the bill.

Text available as:

Shown Here:
Introduced in House (09/15/2010)


111th CONGRESS
2d Session
H. R. 6126


To provide for 100 percent expensing for capital property placed in service on or after September 8, 2010, and before 2012.


IN THE HOUSE OF REPRESENTATIVES

September 15, 2010

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


A BILL

To provide for 100 percent expensing for capital property placed in service on or after September 8, 2010, and before 2012.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. 100 percent expensing for capital property placed in service on or after September 8, 2010, and before 2012.

(a) In general.—Section 179 of the Internal Revenue Code of 1986 (relating to election to expense certain depreciable business assets) is amended by adding at the end the following new subsection:

“(f) Special rules for 100 percent expensing period.—

“(1) IN GENERAL.—In the case of property placed in service on or after September 8, 2010, and before January 1, 2012, subsection (b) shall not apply.

“(2) APPLICATION OF SECTION FOR PERIODS PRIOR TO SEPTEMBER 8.—In the case of any taxable year which includes September 8, 2010, for the portion of such taxable year prior to September 8, each of the dollar amounts in subsections (b) and (e) shall be reduced by the amount which bears the same ratio to such dollar amount as the number of days in such portion of the taxable year bears to 365.”.

(b) Effective date.—The amendment made by subsection (a) shall apply to property placed in service on or after September 31, 2010.