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H.R. 4212House113th Congress (2013-2015)In Committee

To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property.

Sponsored by Mike KellyRep. Mike Kelly (R-PA)
Introduced March 12, 2014

Legislative Activity

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1 earlier action
HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

March 12, 2014

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HouseIntro Referral

Introduced in House

March 12, 2014

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

March 12, 2014

Floor Debate

2 members

What members said about H.R. 4212 on the floor

1 Republican1 Democrat
Betty McCollum
Rep. Betty McCollumD-MN-4 · Jan 1, 2013

Mr. Speaker, this evening I inadvertently missed voting on rollcall votes 655, 656, and 657. I intended to vote ``no'' on H.R. 6726. I intended to vote ``yes'' on the Senate Amendment to H.R. 443. I…

Record
Doc Hastings
Rep. Doc HastingsR-WA-4 · Jan 1, 2013

Mr. Speaker, I demand a recorded vote.

Record

Bill Text

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Introduced in HouseIssued March 12, 2014

I

113th CONGRESS

2d Session

H. R. 4212

IN THE HOUSE OF REPRESENTATIVES

March 12, 2014

Mr. Kelly of Pennsylvania (for himself, Mr. Neal, Mr. Gerlach, and Mr. Kind) 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 permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property.

1.

Permanent extension of treatment of qualified leasehold improvement property as 15-year property for purposes of depreciation deduction

(a)

In general

Clause (iv) of section 168(e)(3)(E) of the Internal Revenue Code of 1986 is amended by striking placed in service before January 1, 2014.

(b)

Effective date

The amendment made by this section shall apply to property placed in service after December 31, 2013.

2.

Permanent extension of treatment of qualified restaurant property as 15-year property for purposes of depreciation deduction

(a)

In general

Clause (v) of section 168(e)(3)(E) of the Internal Revenue Code of 1986 is amended by striking placed in service before January 1, 2014.

(b)

Effective date

The amendment made by this section shall apply to property placed in service after December 31, 2013.

3.

Permanent extension of treatment of qualified retail improvement property as 15-year property for purposes of depreciation deduction

(a)

In general

Clause (ix) of section 168(e)(3)(E) of the Internal Revenue Code of 1986 is amended by striking , and before January 1, 2014.

(b)

Effective date

The amendment made by this section shall apply to property placed in service after December 31, 2013.