S 2023 · 107th Congress 2001–2003, ended

A bill to amend the Internal Revenue Code of 1986 to provide for an increase in expensing under section 179.

Introduced Mar 15, 2002 Originated Senate Sponsor Susan M. Collins R-ME

Fact sheet

Latest action · Mar 15, 2002 Read twice and referred to the Committee on Finance.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedMar 15, 2002
  2. Passed SenateNot reached
  3. Passed HouseNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Amends the Internal Revenue Code by raising the section 179 expensing limitation to $40,000 and the total at which phaseout of maximum benefit begins to $325,000.

Cosponsors 3

Members who signed on, in the order they did. All signed on Mar 15, 2002.

SeatCosponsorSigned on
R-MOChristopher S. BondOriginalMar 15, 2002
R-ORGordon H. SmithOriginalMar 15, 2002
R-ARTim HutchinsonOriginalMar 15, 2002

Actions 3

Everything that happened, newest first.

  1. Mar 15, 2002Introduced in Senate
  2. Mar 15, 2002Read twice and referred to the Committee on Finance.
  3. Mar 15, 2002Sponsor introductory remarks on measure. (CR S1979-1980)

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.