S.Amdt. 6610

This amendment's own text couldn't be picked out of its Congressional Record passage, so the passage is shown in full.

SA 6610. Mr. TOOMEY submitted an amendment intended to be proposed by
     him to the bill H.R. 2617, to amend section 1115 of title 31, United
     States Code, to amend the description of how performance goals are
     achieved, and for other purposes; which was ordered to lie on the
     table; as follows:

            At the end, add the following:

                              DIVISION KK--EXPENSING

          SEC. 1. EXTENSION OF 100-PERCENT EXPENSING.

            (a) In General.--Section 168(k)(6)(A) of the Internal
          Revenue Code of 1986 is amended--
            (1) in clause (i), by striking ``January 1, 2023'' and
          inserting ``January 1, 2024'',
            (2) in clause (ii)--
            (A) by striking ``December 31, 2022'' and inserting
          ``December 31, 2023'', and
            (B) by striking ``January 1, 2024'' and inserting ``January
          1, 2025'',
            (3) in clause (iii)--
            (A) by striking ``December 31, 2023'' and inserting
          ``December 31, 2024'', and
            (B) by striking ``January 1, 2025'' and inserting ``January
          1, 2026'',
            (4) in clause (iv)--
            (A) by striking ``December 31, 2024'' and inserting
          ``December 31, 2025'', and
            (B) by striking ``January 1, 2026'' and inserting ``January
          1, 2027'', and

     [[Page S10019]]

            (5) in clause (v)--
            (A) by striking ``December 31, 2025'' and inserting
          ``December 31, 2026'', and
            (B) by striking ``January 1, 2027'' and inserting ``January
          1, 2028''.
            (b) Rule for Property With Longer Production Periods.--
          Section 168(k)(6)(B) of the Internal Revenue Code of 1986 is
          amended--
            (1) in clause (i), by striking ``January 1, 2024'' and
          inserting ``January 1, 2025'',
            (2) in clause (ii)--
            (A) by striking ``December 31, 2023'' and inserting
          ``December 31, 2024'', and
            (B) by striking ``January 1, 2025'' and inserting ``January
          1, 2026'',
            (3) in clause (iii)--
            (A) by striking ``December 31, 2024'' and inserting
          ``December 31, 2025'', and
            (B) by striking ``January 1, 2026'' and inserting ``January
          1, 2027'',
            (4) in clause (iv)--
            (A) by striking ``December 31, 2025'' and inserting
          ``December 31, 2026'', and
            (B) by striking ``January 1, 2027'' and inserting ``January
          1, 2028'', and
            (5) in clause (v)--
            (A) by striking ``December 31, 2026'' and inserting
          ``December 31, 2027'', and
            (B) by striking ``January 1, 2028'' and inserting ``January
          1, 2029''.
            (c) Rule for Plants Bearing Fruits and Nuts.--Section
          168(k)(6)(C) of the Internal Revenue Code of 1986 is
          amended--
            (1) in clause (i), by striking ``January 1, 2023'' and
          inserting ``January 1, 2024'',
            (2) in clause (ii)--
            (A) by striking ``December 31, 2022'' and inserting
          ``December 31, 2023'', and
            (B) by striking ``January 1, 2024'' and inserting ``January
          1, 2025'',
            (3) in clause (iii)--
            (A) by striking ``December 31, 2023'' and inserting
          ``December 31, 2024'', and
            (B) by striking ``January 1, 2025'' and inserting ``January
          1, 2026'',
            (4) in clause (iv)--
            (A) by striking ``December 31, 2024'' and inserting
          ``December 31, 2025'', and
            (B) by striking ``January 1, 2026'' and inserting ``January
          1, 2027'', and
            (5) in clause (v)--
            (A) by striking ``December 31, 2025'' and inserting
          ``December 31, 2026'', and
            (B) by striking ``January 1, 2027'' and inserting ``January
          1, 2028''.
            (d) Extension.--
            (1) In general.--Section 168(k) of the Internal Revenue
          Code of 1986 is amended--
            (A) in paragraph (2)--
            (i) in subparagraph (A)(iii), clauses (i)(III) and (ii) of
          subparagraph (B), and subparagraph (E)(i), by striking
          ``January 1, 2027'' each place it appears and inserting
          ``January 1, 2028'', and
            (ii) in subparagraph (B)--

            (I) in clause (i)(II), by striking ``January 1, 2028'' and
          inserting ``January 1, 2029'', and
            (II) in the heading of clause (ii), by striking ``pre-
          january 1, 2027'' and inserting ``pre-january 1, 2028'', and

            (B) in paragraph (5)(A), by striking ``January 1, 2027''
          and inserting ``January 1, 2028''.
            (2) Conforming amendment.--Clause (ii) of section
          460(c)(6)(B) of the Internal Revenue Code of 1986 is amended
          by striking ``January 1, 2027 (January 1, 2028'' and
          inserting ``January 1, 2028 (January 1, 2029''.
            (e) Effective Date.--The amendments made by this section
          shall apply to property placed in service, and specified
          plants (as defined in section 168(k)(5)(B) of the Internal
          Revenue Code of 1986) planted or grafted, after December 31,
          2022.
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