H.R. 4019 — Introduced in House

I 113th CONGRESS 2d Session H. R. 4019 IN THE HOUSE OF REPRESENTATIVES February 6, 2014 Mr. Murphy of Florida (for himself, Mr. Joyce, Mr. Cárdenas, Mr. Chabot, Mr. Cartwright, Mr. Tipton, Ms. Kuster, Mr. Vargas, Mr. Swalwell of California, and Mr. Owens) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to extend the expensing of certain depreciable business assets. 1. Short title This Act may be cited as the Small Business Investment Act of 2014. 2. Extension of expensing limitation (a) Dollar limitation Paragraph (1) of section 179(b) of the Internal Revenue Code of 1986 is amended— (1) by striking or 2013 in subparagraph (B) and inserting 2013, 2014, or 2015, and (2) by striking after 2013 in subparagraph (C) and inserting after 2015. (b) Reduction in limitation Paragraph (2) of section 179(b) of such Code is amended— (1) by striking or 2013 in subparagraph (B) and inserting 2013, 2014, or 2015, and (2) by striking after 2013 in subparagraph (C) and inserting after 2015. (c) Computer software Clause (ii) of section 179(d)(1)(A) of such Code is amended by striking before 2014 and inserting before 2016. (d) Election Paragraph (2) of section 179(c) of such Code is amended by striking before 2014 and inserting before 2016. (e) Special rules for treatment of qualified real property (1) In general Paragraph (1) of section 179(f) of such Code is amended by striking or 2013 and inserting 2013, 2014, or 2015. (2) Carryover Paragraph (4) of section 179(f) of such Code is amended by striking 2013 each place it appears and inserting 2015. (f) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2013.