S 1298 · 113th Congress · Taxation

A bill to amend the Internal Revenue Code of 1986 to adjust the limits on expensing of certain depreciable business assets.

Introduced 2013-07-16· Sponsored by Sen. Begich, Mark [D-AK]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(2013-07-16)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase, for taxable years beginning after 2013: (1) the limitation on the amount of the expensing allowance for depreciable business assets from $25,000 to $200,000, and (2) the threshold amount over which such expensing allowance is reduced from $200,000 to $800,000.…

Summarized by Claude AI · Non-partisan · For informational purposes only