US Congress Senate Bill 1399 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on May 20 2015 - 25% progression, died in committee
Action: 2015-05-20 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Small Business Expensing Act of 2015 This bill amends the Internal Revenue Code, with respect to the taxpayer election to expense depreciable business property (section 179 property), to: (1) increase to $1 million the expensing allowance for such property, (2) increase to $2.5 million the threshold amount of such property after which the amount of the expensing allowance is reduced, (3) grant a permanent right to revoke an expensing election, and (4) make such increased allowance permanent after 2014. The allowance is also made permanent for computer software and for qualified real property (i.e., qualified leasehold improvement property, restaurant property, and retail improvement property).

Small Business Expensing Act of 2015

Sen. Michael Bennet [D-CO]

Date	Chamber	Action
2015-05-20	Senate	Read twice and referred to the Committee on Finance.

HB636 (Related) 2016-07-15 - Became Public Law No: 114-190. (TXT | PDF)

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/1399/all-info
Text	https://www.congress.gov/114/bills/s1399/BILLS-114s1399is.pdf