Summary: H.R.3123 — 112th Congress (2011-2012)All Information (Except Text)

There is one summary for H.R.3123. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (10/06/2011)

American Job Creation and Investment Act of 2011 - Amends the Internal Revenue Code, with respect to the election to accelerate the alternative minimum tax (AMT) credit in lieu of bonus depreciation, to: (1) repeal the $30 million cap on the AMT tax credit and increase the rate of such credit from 6% to 50%, (2) allow investments made by partnerships that are more than 50% owned by a corporation to qualify for such increased AMT credit amount, and (3) allow taxpayers to make separate elections for each taxable year to take bonus depreciation or AMT credits in lieu of bonus depreciation.