HR 3366 · 112th Congress · Taxation
To amend the Internal Revenue Code of 1986 to clarify that bonus depreciation is not a cost allocated to a contract under the percentage of completion method for long-term contracts.
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2011-11-04)
Plain Language Summary
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Amends the Internal Revenue Code to extend through 2012 the tax rule that excludes bonus depreciation allowed for certain depreciable business assets as a cost allocated to a contract under the percentage of completion method for long-term contracts.…
Summarized by Claude AI · Non-partisan · For informational purposes only