To amend the Internal Revenue Code of 1986 to provide a shorter recovery period for the depreciation of certain leasehold improvements.

Fact Sheet API

Bill Number

HR 1030

Introduced

Mar 14, 2001

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Building construction Building leases Business income tax Commerce Depreciation and amortization Income tax Office buildings Tax deductions Taxation

Full Text

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Votes

Summary

Amends the Internal Revenue Code to classify qualified leasehold improvement property (defined as certain improvements made to an interior portion of nonresidential real property) as ten-year property for depreciation purposes under the Accelerated Cost Recovery System.

Actions

Mar 14, 2001

Referred to the House Committee on Ways and Means.
Mar 14, 2001

Sponsor introductory remarks on measure. (CR E359-360)
Mar 14, 2001

Introduced in House

Amendments

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