To amend the Internal Revenue Code of 1986 to make permanent the rule treating certain farming business machinery and equipment as 5-year property.

Amends the Internal Revenue Code to make permanent the classification of certain farming business machinery and equipment as five-year property for purposes of the tax deduction for depreciation.

[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1747 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 1747

 To amend the Internal Revenue Code of 1986 to make permanent the rule 
  treating certain farming business machinery and equipment as 5-year 
                               property.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 5, 2011

Mr. Herger (for himself, Mr. Kind, Mr. Burton of Indiana, Mr. Graves of 
  Missouri, and Mr. Latham) 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 make permanent the rule 
  treating certain farming business machinery and equipment as 5-year 
                               property.

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

SECTION 1. PERMANENT TREATMENT OF CERTAIN FARMING AND BUSINESS 
              MACHINERY AND EQUIPMENT AS 5-YEAR PROPERTY.

    (a) In General.--Clause (vii) of section 168(e)(3)(B) of the 
Internal Revenue Code of 1986 is amended by striking ``, and which is 
placed in service before January 1, 2010''.
    (b) Effective Date.--The amendment made by this section shall apply 
to property placed in service after December 31, 2009.
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