Fixed Asset Relief Act of 2015

1/11/2023, 1:30 PM

Fixed Asset Relief Act of 2015

This bill amends the Internal Revenue Code to increase the additional depreciation allowance (bonus depreciation) from 50% to 100% of the adjusted basis of qualifying business property and to make such increased allowance permanent.

Congress
114
Number
HR - 3213
Introduced on
2015-07-23
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

7/23/2015
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Fixed Asset Relief Act of 2015

This bill amends the Internal Revenue Code to increase the additional depreciation allowance (bonus depreciation) from 50% to 100% of the adjusted basis of qualifying business property and to make such increased allowance permanent.

Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to make 100 percent bonus depreciation permanent.
Policy Areas
Taxation
Potential Impact
Business investment and capital•
Income tax deductions

Comments

Related

Bill Update Alert:  Consolidated Appropriations Act, 2016
Bill Update Alert:  To amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation.
Bill Update Alert:  A bill to amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation.

Recent Activity

Latest Summary9/25/2015

Fixed Asset Relief Act of 2015

This bill amends the Internal Revenue Code to increase the additional depreciation allowance (bonus depreciation) from 50% to 100% of the adjusted basis of qualifying business property and to...

Latest Action7/23/2015
Referred to the House Committee on Ways and Means.