To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property.
Latest action · Mar 12, 2014 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 12, 2014
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to make permanent the 15-year recovery period classification for qualified leasehold improvement, restaurant, and retail improvement property, for purposes of the depreciation tax deduction.
Cosponsors 9
Members who signed on, in the order they did. Signatures ran from Mar 12, 2014 to Sep 18, 2014; 3 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-PA | Jim Gerlach | Original | Mar 12, 2014 |
| D-MA | Richard E. Neal | Original | Mar 12, 2014 |
| D-WI | Ron Kind | Original | Mar 12, 2014 |
| R-TX | Kenny Marchant | Jun 10, 2014 | |
| R-LA | Charles W. Boustany, Jr. | Jul 24, 2014 | |
| R-MN | Erik Paulsen | Jul 24, 2014 | |
| R-FL | Jeff Miller | Jul 24, 2014 | |
| D-CA | Mike Thompson | Jul 24, 2014 | |
| I-AZ | Kyrsten Sinema | Sep 18, 2014 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Mar 12, 2014 |
Actions 2
Everything that happened, newest first.
- Mar 12, 2014Introduced in House
- Mar 12, 2014Referred to the House Committee on Ways and Means.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the page H2361.
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 749 | A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. | Related bill | Apr 17, 2013 |
| HR 3939 | Invest in United States Act of 2014 | Related bill | Jun 13, 2014 |
| HR 3948 | To amend the Internal Revenue Code of 1986 to extend for one year the 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements. | Related bill | Jan 28, 2014 |
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Mar 12, 2014Introduced 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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
