S.Amdt. 653
What it does: 4 changes: inserts text, replaces text in 3 places
Sen. Max Baucus (D-MT)What it changes
4 changes to S. 1054 · 1 shown in the bill's text
Change 1: Inserts “, plus 50 percent of the aggregate cost not otherwise taken into account for such taxable…” after “$75,000”
In S. 1054 · Placed on Calendar Senate
(a) In General.--Paragraph (1) of section 179(b) (relating to dollar limitation) is amended to read as follows:
"(1) Dollar limitation.--The aggregate cost which may be taken into account under subsection (a) for any taxable year shall not exceed $75,000[inserted: , plus 50 percent of the aggregate cost not otherwise taken into account for such taxable year for section 179 property placed in service after the date of the enactment of the Jobs and Growth Tax Relief Reconciliation Act of 2003, and before January 1, 2005].".
(b) Increase in Qualifying Investment at Which Phaseout Begins.-- Paragraph (2) of section 179(b) (relating to reduction in limitation) is amended by striking "$200,000" and inserting "$325,000".
Original wording
On page 15, line 18, insert “, plus 50 percent of the aggregate cost not otherwise taken into account for such taxable year for section 179 property placed in service after the date of the enactment of the Jobs and Growth Tax Relief Reconciliation Act of 2003, and before January 1, 2005” after “$75,000”.
Change 2: Replaces “2007” with “2010”
[struck: 2007][inserted: 2010]Original wording
On page 19, line 13, strike “2007” and insert “2010”.
Change 3: Replaces “2007” with “2010”
[struck: 2007][inserted: 2010]Original wording
On page 26, line 19, strike “2007” and insert “2010”.
Change 4: Replaces “2007” with “2010”
[struck: 2007][inserted: 2010]Original wording
On page 26, line 22, strike “2007” and insert “2010”.
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 653. Mr. BAUCUS submitted an amendment intended to be proposed by him to the bill S. 1054, to provide for reconciliation pursuant to section 201 of the concurrent resolution on the budget for fiscal year 2004; which was ordered to lie on the table; as follows:
On page 15, line 18, insert “, plus 50 percent of the aggregate cost not otherwise taken into account for such taxable year for section 179 property placed in service after the date of the enactment of the Jobs and Growth Tax Relief Reconciliation Act of 2003, and before January 1, 2005” after “$75,000”.
On page 19, line 13, strike “2007” and insert “2010”.
On page 26, line 19, strike “2007” and insert “2010”.
On page 26, line 22, strike “2007” and insert “2010”.
Legislative Activity
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Senate amendment submitted
May 15, 2003