H.R. 4019

Small Business Investment Act of 2014

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I

113th CONGRESS

2d Session

H. R. 4019

IN THE HOUSE OF REPRESENTATIVES

February 6, 2014

Mr. Murphy of Florida (for himself, Mr. Joyce, Mr. Cárdenas, Mr. Chabot, Mr. Cartwright, Mr. Tipton, Ms. Kuster, Mr. Vargas, Mr. Swalwell of California, and Mr. Owens) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to extend the expensing of certain depreciable business assets.

1.

Short title

This Act may be cited as the Small Business Investment Act of 2014.

2.

Extension of expensing limitation

(a)

Dollar limitation

Paragraph (1) of section 179(b) of the Internal Revenue Code of 1986 is amended—

(1)

by striking or 2013 in subparagraph (B) and inserting 2013, 2014, or 2015, and

(2)

by striking after 2013 in subparagraph (C) and inserting after 2015.

(b)

Reduction in limitation

Paragraph (2) of section 179(b) of such Code is amended—

(1)

by striking or 2013 in subparagraph (B) and inserting 2013, 2014, or 2015, and

(2)

by striking after 2013 in subparagraph (C) and inserting after 2015.

(c)

Computer software

Clause (ii) of section 179(d)(1)(A) of such Code is amended by striking before 2014 and inserting before 2016.

(d)

Election

Paragraph (2) of section 179(c) of such Code is amended by striking before 2014 and inserting before 2016.

(e)

Special rules for treatment of qualified real property

(1)

In general

Paragraph (1) of section 179(f) of such Code is amended by striking or 2013 and inserting 2013, 2014, or 2015.

(2)

Carryover

Paragraph (4) of section 179(f) of such Code is amended by striking 2013 each place it appears and inserting 2015.

(f)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2013.