To amend the Internal Revenue Code of 1986 to increase the dollar limitation on expensing certain depreciable assets and to extend the deduction for an additional year.

Amends the Internal Revenue Code to: (1) increase to $250,000 the expensing allowance for depreciable business assets in 2010 and 2011; and (2) extend through 2011 related provisions, including increased expensing for certain computer software.

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4661 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 4661

   To amend the Internal Revenue Code of 1986 to increase the dollar 
 limitation on expensing certain depreciable assets and to extend the 
                   deduction for an additional year.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 23, 2010

  Mr. Hodes 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 increase the dollar 
 limitation on expensing certain depreciable assets and to extend the 
                   deduction for an additional year.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. TEMPORARY INCREASE IN DOLLAR LIMITATION ON EXPENSING CERTAIN 
              DEPRECIABLE BUSINESS ASSETS.

    (a) Dollar Limitation.--Paragraph (1) of section 179(b) of the 
Internal Revenue Code of 1986 (relating to limitations) is amended by 
striking ``$125,000 in the case of taxable years beginning after 2006 
and before 2011'' and inserting ``$250,000 in the case of taxable years 
beginning in 2010 or 2011''.
    (b) Reduction in Limitation.--Paragraph (2) of section 179(b) of 
such Code is amended by striking ``2011'' and inserting ``2012''.
    (c) Election.--Paragraph (2) of section 179(c) of such Code is 
amended by striking ``2011'' and inserting ``2012''.
    (d) Computer Software.--Clause (ii) of section 179(d)(1)(A) of such 
Code is amended by striking ``2011'' and inserting ``2012''.
    (e) Conforming Amendments.--
            (1) Repeal of inflation adjustment.--Section 179(b) of such 
        Code is amended by striking paragraph (5).
            (2) Repeal of 2008 and 2009 adjustments.--Section 179(b) of 
        such Code is amended by striking paragraph (7).
    (f) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2009.
                                 <all>