H.R. 4332

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.

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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.