#aacth ,,congress  #b;d ,session  ,h4   
,r4 #ddeg  ,,an ,,act  ,to amend the    
,internal ,revenue ,code of #aihf to    
permanently extend increased expensing  
limitations1 and for other purposes4    
#a4 ,short title ,this ,act may be cited
 as the ,america's ,small ,business ,tax
 ,relief ,act of #bjad4  #b4 ,expensing 
certain depreciable business assets for 
small business  7a7 ,in general  7#a7   
,dollar limitation ,paragraph 7#a7 of   
section #agi7;b7 of the ,internal       
,revenue ,code of #aihf is amended by   
striking shall not exceed-- and all that
 follows and inserting shall not exceed 
#ejj1jjj44  7#b7 ,reduction in          
limitation ,paragraph 7#b7 of section   
#agi7;b7 of such ,code is amended by    
striking exceeds-- and all that follows 
and inserting exceeds #b1jjj1jjj44  7b7 
,computer software ,clause 7ii7 of      
section #agi7;d77#a77;,a7 of such ,code 
is amended by striking 1 to which       
section #afg applies1 and which is      
placed in service in a taxable year     

beginning after #bjjb and before #bjad  
and inserting and to which section #afg 
applies4  7c7 ,election ,paragraph 7#b7 
of section #agi7;c7 of such ,code is    
amended--  7#a7 by striking may not be  
revoked and all that follows through and
 before #bjad1 and  7#b7 by striking    
irrevocable in the heading thereof4  7d7
 ,air conditioning and heating units    
,paragraph 7#a7 of section #agi7;d7 of  
such ,code is amended by striking and   
shall not include air conditioning or   
heating units4  7e7 ,qualified real     
property ,subsection 7f7 of section #agi
 of such ,code is amended--  7#a7 by    
striking beginning in #bjaj1 #bjaa1     
#bjab1 or #bjac in paragraph 7#a71 and  
7#b7 by striking paragraphs 7#c7 and    
7#d74  7f7 ,inflation adjustment        
,subsection 7b7 of section #agi of such 
,code is amended by adding at the end   
the following new paragraph3  7#f7      
,inflation adjustment  7,a7 ,in general 
,in the case of any taxable year        
beginning after #bjad1 the dollar       

amounts in paragraphs 7#a7 and 7#b7     
shall each be increased by an amount    
equal to--  7i7 such dollar amount1     
multiplied by  7ii7 the cost-of-living  
adjustment determined under section     
#a7;c77#b77;,a7 for such calendar year1 
determined by substituting calendar year
 #bjac for calendar year #bjab in clause
 7ii7 thereof4  7,b7 ,rounding ,the     
amount of any increase under            
subparagraph 7,a7 shall be rounded to   
the nearest multiple of #aj1jjj4  4  7g7
 ,effective date ,the amendments made by
 this section shall apply to taxable    
years beginning after ,december #ca1    
#bjac4  #c4 ,budgetary effects  7a7     
,statutory ,pay-,as-,you-,go ,scorecards
 ,the budgetary effects of this ,act    
shall not be entered on either ,,paygo  
scorecard maintained pursuant to section
 #d7;d7 of the ,statutory               
,pay-,as-,you-,go ,act of #bjaj4  7b7   
,senate ,,paygo ,scorecards ,the        
budgetary effects of this ,act shall not
 be entered on any ,,paygo scorecard    

maintained for purposes of section #bja 
of ,s4 ,con4 ,res4 #ba 7#aajth          
,congress74  ,passed the ,house of      
,representatives ,june #ab1             
#bjad4;,clerk4