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Multifamily Depreciation Parity Act of 2019

10/28/2022, 1:46 AM

Congressional Summary of HR 5313

Multifamily Depreciation Parity Act of 2019

This bill allows the depreciation of certain residential rental property placed in service prior to January 1, 2018, over a 30-year period (currently, such property is subject to a 40-year depreciation period).

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Current Status of Bill HR 5313

Bill HR 5313 is currently in the status of Bill Introduced since December 5, 2019. Bill HR 5313 was introduced during Congress 116 and was introduced to the House on December 5, 2019.  Bill HR 5313's most recent activity was Referred to the House Committee on Ways and Means. as of December 5, 2019

Bipartisan Support of Bill HR 5313

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
0
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5313

Primary Policy Focus

Taxation

Potential Impact Areas

- Business investment and capital
- Housing industry and standards
- Income tax deductions

Alternate Title(s) of Bill HR 5313

Multifamily Depreciation Parity Act of 2019
To amend the Internal Revenue Code of 1986 to allow for certain residential rental property to be depreciated over a 30-year period.
Multifamily Depreciation Parity Act of 2019

Comments

Sponsors and Cosponsors of HR 5313

Joseph D. Morelle
Joseph D. Morelle
New YorkDemocrat
Brad R. Wenstrup
Brad R. Wenstrup
OhioRepublican

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