To amend the Internal Revenue Code of 1986 to allow an ordinary and necessary business expense deduction for contributions to regional infrastructure improvement zones, and for other purposes.
Latest action · Jan 18, 2012 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.
- IntroducedJan 18, 2012
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to allow a taxpayer to elect, during the five-year period after the enactment of this Act, to treat any contribution to a qualified regional infrastructure improvement zone as a tax deductible ordinary and necessary business expense. Defines "qualified regional infrastructure improvement zone" as any zone created and designated by a multi-jurisdictional regional planning organization to undertake public infrastructure improvement projects.
Cosponsors 2
Members who signed on, in the order they did. Signatures ran from Mar 29, 2012 to Jul 9, 2012.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Adam B. Schiff | Mar 29, 2012 | |
| R-IL | Aaron Schock | Jul 9, 2012 |
Actions 2
Everything that happened, newest first.
- Jan 18, 2012Introduced in House
- Jan 18, 2012Referred to the House Committee on Ways and Means.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jan 18, 2012Introduced 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.