Jobs Investment Act of 2014

Jobs Investment Act of 2014 - Directs the Secretary of the Treasury to develop and report on recommendations for assigning to depreciable property a class life, classification, or recovery period that more equitably provides for capital cost recovery across all industries without any significant effect on total tax revenue.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4819 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4819

  To direct the Secretary of the Treasury to develop and submit class 
              life recommendations for depreciable assets.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              June 9, 2014

   Mr. Murphy of Florida (for himself and Mr. Chabot) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To direct the Secretary of the Treasury to develop and submit class 
              life recommendations for depreciable assets.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Jobs Investment Act of 2014''.

SEC. 2. CLASS LIFE RECOMMENDATIONS.

    (a) In General.--The Secretary of the Treasury shall, based on the 
monitoring and analysis of actual experience with respect to 
depreciable property under section 168(i)(1) of the Internal Revenue 
Code of 1986, develop recommendations for prescribing to any 
depreciable property a class life, classification, or recovery period 
that more equitably provides for capital cost recovery across all 
industries without any significant effect on total tax revenue.
    (b) Proposal.--Not later than January 31, 2019, and every 5 years 
thereafter, the Secretary shall submit to the Committee on Ways and 
Means of the House of Representatives and the Committee on Finance of 
the Senate the recommendations developed under subsection (a).
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