H.R. 4332House113th Congress (2013-2015)In Committee

To direct the Secretary of the Treasury to increase the dollar limitation on the de minimis safe harbor from treatment as a capital expenditure for taxpayers without applicable financial statements.

Introduced March 27, 2014

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

March 27, 2014

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HouseIntro Referral

Introduced in House

March 27, 2014

HouseIntro Referral

Referred to the House Committee on Ways and Means.

March 27, 2014

Floor Debate

3 members

What members said about H.R. 4332 on the floor

2 Republicans1 Democrat
Howard P. "Buck" McKeon
Rep. Howard P. "Buck" McKeonR-CA-25 · Dec 11, 2014

I thank Chairman Hastings for yielding. Mr. Speaker, it is a great privilege to speak on my bill, H.R. 5742, the Soledad Canyon Settlement Act. I appreciate the opportunity to appear before the…

Doc Hastings
Rep. Doc HastingsR-WA-4 · Dec 11, 2014

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 5742) to provide to the Secretary of the Interior a mechanism to cancel contracts for the sale of materials CA- 20139 and CA-22901,…

Brad Sherman
Rep. Brad ShermanD-CA-30 · Dec 11, 2014

Mr. Speaker, I rise in support of the bill and would like to hear from the gentleman from California (Mr. McKeon), so I will reserve the balance of my time. Mr. Speaker, I yield myself as much time…

Bill Text

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Introduced in HouseIssued March 27, 2014

I

113th CONGRESS

2d Session

H. R. 4332

IN THE HOUSE OF REPRESENTATIVES

March 27, 2014

Mr. Gardner (for himself, Mr. Cramer, Mr. Tipton, Mr. Long, and Mr. Coffman) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To direct the Secretary of the Treasury to increase the dollar limitation on the de minimis safe harbor from treatment as a capital expenditure for taxpayers without applicable financial statements.

1.

Increase in dollar limitation on de minimis safe harbor from treatment as capital expenditures for taxpayers without applicable financial statements

(a)

In general

Not later than 180 days after the date of the enactment of this Act, the Secretary of the Treasury (or the Secretary’s designee) shall modify Treasury Regulation section 1.263(a)–1(f)(1)(ii)(D) to increase the $500 limitation contained therein with respect to the de minimis safe harbor for taxpayers without applicable financial statements to $1,000.

(b)

Effective date

The revised regulations under this section shall apply to amounts paid or incurred in taxable years beginning after December 31, 2013.