S.Amdt. 3077

SA 3077. Mr. THUNE (for himself, Mr. Roberts, Mr. Isakson, and Mr. Flake) submitted an amendment intended to be proposed by him to the bill H.R. 3474, to amend the Internal Revenue Code of 1986 to allow employers to exempt employees with health coverage under TRICARE or the Veterans Administration from being taken into account for purposes of the employer mandate under the Patient Protection and Affordable Care Act; which was ordered to lie on the table; as follows:

Strike section 127 and insert the following:

SEC. 127. PERMANENT EXTENSION OF EXPENSING CERTAIN DEPRECIABLE BUSINESS ASSETS FOR SMALL BUSINESS.

(a) In General.--

(1) Dollar limitation.--Paragraph (1) of section 179(b) is amended by striking “shall not exceed--” and all that follows and inserting “shall not exceed $500,000.”.

(2) Reduction in limitation.--Paragraph (2) of section 179(b) is amended by striking “exceeds--” and all that follows and inserting “exceeds $2,000,000.”.

(b) Computer Software.--Clause (ii) of section 179(d)(1)(A) is amended by striking “, to which section 167 applies, and which is placed in service in a taxable year beginning after 2002 and before 2014” and inserting “and to which section 167 applies”.

(c) Election.--Paragraph (2) of section 179(c) is amended--

(1) by striking “may not be revoked” and all that follows through “and before 2014”, and

(2) by striking “irrevocable” in the heading thereof.

(d) Air Conditioning and Heating Units.--Paragraph (1) of section 179(d) is amended by striking “and shall not include air conditioning or heating units”.

(e) Qualified Real Property.--Subsection (f) of section 179 is amended--

(1) by striking “beginning in 2010, 2011, 2012, or 2013” in paragraph (1), and

(2) by striking paragraphs (3) and (4).

(f) Inflation Adjustment.--Subsection (b) of section 179 is amended by adding at the end the following new paragraph:

“(6) Inflation adjustment.--

“(A) In general.--In the case of any taxable year beginning after 2014, the dollar amounts in paragraphs (1) and (2) shall each be increased by an amount equal to--

“(i) such dollar amount, multiplied by

“(ii) the cost-of-living adjustment determined under section 1(c)(2)(A) for such calendar year, determined by substituting calendar year 2013 for calendar year 2012 in clause (ii) thereof.

“(B) Rounding.--The amount of any increase under subparagraph (A) shall be rounded to the nearest multiple of $10,000.”.

(g) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2013.