HR 5649 · 117th Congress · Taxation
Bring Entrepreneurial Advancements To Consumers Here In North America Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2021-10-20)
Plain Language Summary
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Bring Entrepreneurial Advancements To Consumers Here In North America Act This bill provides tax incentives for relocating manufacturing facilities in the United States. Specifically, it allows accelerated depreciation (20-year recovery period) for nonresidential real property acquired in connection with the relocation of manufacturing facilities in the United States. It also excludes from gross income, for income tax purposes, gain on the sale or exchange of such relocated facilities. Finally, the bill allows permanent 100% expensing of manufacturing property relocated in the United States.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (15)
15 Republicans