US Congress Senate Bill 1342 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 4-1)
Status: Introduced on July 23 2013 - 25% progression, died in committee
Action: 2013-07-23 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Small Business Investment Promotion Act - Amends the Internal Revenue Code, with respect to the expensing allowance for depreciable business property, to make permanent: (1) the increased $200,000 expensing allowance for such property, (2) the increased $800,000 threshold amount for such property over which the expensing allowance is reduced, (3) expensing of computer software, and (4) rules for the expensing of qualified real property. Eliminates the termination date for exercising an election to expense property. Allows an inflation adjustment to the dollar amounts of the expensing allowance for taxable years beginning after 2014.

Small Business Investment Promotion Act

Sen. Jeff Flake [R-AZ]	Sen. James Inhofe [R-OK]	Sen. James Risch [R-ID]	Sen. Tim Scott [R-SC]
Sen. Tom Udall [D-NM]

Date	Chamber	Action
2013-07-23	Senate	Read twice and referred to the Committee on Finance.

SB1298 (Related) 2013-07-16 - Read twice and referred to the Committee on Finance.
HB4457 (Related) 2014-06-17 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 434.
HB4501 (Same As) 2014-04-28 - Referred to the House Committee on Ways and Means.
HB4 (Related) 2014-11-13 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 597.
HB5360 (Related) 2014-09-15 - Referred to the Subcommittee on Public Lands and Environmental Regulation.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/1342/all-info
Text	https://www.congress.gov/113/bills/s1342/BILLS-113s1342is.pdf