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]

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.

Tracking Information

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Title

Fairness for Agricultural Machinery and Equipment Act

Sponsors


History

DateChamberAction
2017-07-27HouseReferred to the House Committee on Ways and Means.
2017-07-27HouseIntroduced 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


Bill Comments

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