US HB3455 | 2017-2018 | 115th Congress
Status
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on July 27 2017 - 25% progression, died in committee
Action: 2017-07-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 27 2017 - 25% progression, died in committee
Action: 2017-07-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Fairness for Agricultural Machinery and Equipment Act This bill amends the Internal Revenue Code to: (1) make permanent the five-year recovery period for the depreciation of certain farming business machinery and equipment by eliminating the requirement that the property be placed in service before 2010; and (2) expand the machinery and equipment that qualifies as five-year property to include a grain bin, cotton ginning asset, or fence used in a farming business. The original use of the five-year property must commence with the taxpayer after the enactment of this bill.
Title
Fairness for Agricultural Machinery and Equipment Act
Sponsors
Rep. Ralph Abraham [R-LA] | Rep. Collin Peterson [D-MN] | Rep. Eric Crawford [R-AR] |
History
Date | Chamber | Action |
---|---|---|
2017-07-27 | House | Referred to the House Committee on Ways and Means. |
2017-07-27 | House | Introduced in House |
Same As/Similar To
SB1422 (Related) 2017-06-22 - Read twice and referred to the Committee on Finance.
Subjects
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/house-bill/3455/all-info |
Text | https://www.congress.gov/115/bills/hr3455/BILLS-115hr3455ih.pdf |