To amend the Internal Revenue Code of 1986 to provide a shorter recovery period for the depreciation of certain improvements to retail space.
Latest action · Mar 2, 2005 Referred to the House Committee on Ways and Means.
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.
- IntroducedMar 2, 2005
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to allow qualified retail improvement property a 15-year recovery period for purposes of the tax deduction for depreciation. Defines such property as any improvement to an interior portion of a building which is nonresidential real property, if: (1) such portion is open to the general public and is used in the trade or business of selling tangible personal property or services to the general public; and (2) such improvement is placed in service more than three years after the date the building was first placed in service. Excludes specified improvements, including the enlargement of a building, any elevator or escalator, or the internal structural framework of a building.
Cosponsors 12
Members who signed on, in the order they did. Signatures ran from Mar 2, 2005 to Jul 28, 2005, with 7 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-AZ | J. D. Hayworth | Original | Mar 2, 2005 |
| R-MN | Jim Ramstad | Original | Mar 2, 2005 |
| R-FL | Mark Foley | Original | Mar 2, 2005 |
| R-TX | Pete Sessions | Original | Mar 2, 2005 |
| R-PA | Phil English | Original | Mar 2, 2005 |
| R-TX | Sam Johnson | Original | Mar 2, 2005 |
| R-CA | Wally Herger | Original | Mar 2, 2005 |
| R-VA | Eric Cantor | Jul 21, 2005 | |
| D-TN | Harold E. Ford Jr. | Jul 21, 2005 | |
| R-FL | Jeff Miller | Jul 21, 2005 | |
| R-IL | Jerry Weller | Jul 21, 2005 | |
| R-FL | Dave Weldon | Jul 28, 2005 |
Actions 2
Everything that happened, newest first.
- Mar 2, 2005Introduced in House
- Mar 2, 2005Referred to the House Committee on Ways and Means.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 3806 | A bill to amend the Internal Revenue Code of 1986 to provide a shorter recovery period for the depreciation of certain improvements to retail space. | Identical bill | Aug 3, 2006 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Mar 2, 2005Introduced in House
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.