HR 4822 · 113th Congress · Taxation
Accelerate Our Manufacturers Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2014-06-10)
Plain Language Summary
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Accelerate Our Manufacturers Act - Amends the Internal Revenue Code to allow an additional 100% depreciation allowance (bonus depreciation) for qualified manufacturing property and an election to accelerate the alternative minimum tax (AMT) credit with respect to such property in lieu of bonus depreciation. Defines "qualified manufacturing property" as property that is acquired after December 31, 2013, and before January 1, 2019, and that is used by a manufacturer to produce an article from new or raw material, or from scrap, salvage, or junk material, by processing or changing the form of an article or by combining or assembling two or more articles.…
Summarized by Claude AI · Non-partisan · For informational purposes only