S. 1298 — Introduced in Senate

II 113th CONGRESS 1st Session S. 1298 IN THE SENATE OF THE UNITED STATES July 16 (legislative day, July 15), 2013 Mr. Begich introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to adjust the limits on expensing of certain depreciable business assets. 1. Expensing certain depreciable business assets (a) In general Section 179(b) of the Internal Revenue Code of 1986 is amended— (1) in paragraph (1)(C), by striking $25,000 and inserting $250,000, and (2) in paragraph (2)(C), by striking $200,000 and inserting $800,000. (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2013.