S 1361 · 110th Congress · Taxation
Leasehold Improvement Depreciation Act of 2007
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Finance.(2007-05-10)
Plain Language Summary
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Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (3)
3 Republicans