To amend the Internal Revenue Code of 1986 to provide increased expensing for section 179 property in the Gulf Opportunity Zone.

Fact Sheet API

Bill Number

HR 4305

Introduced

Nov 10, 2005

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

Alabama Commerce Depreciation and amortization Emergency Management Floods Florida Hurricane aftermath legislation Hurricanes Income tax Louisiana Mississippi Tax deductions Taxation

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Votes

Summary

Amends the Internal Revenue to increase the expensing allowance (i.e., a tax deduction in the current taxable year) for the cost of Gulf Opportunity Zone property placed in service in the Hurricane Katrina disaster area.

Actions

Nov 10, 2005

Referred to the House Committee on Ways and Means.
Nov 10, 2005

Introduced in House

Amendments

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