,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #aaa  ,,in ,,the ,,house ,,of   
,,representatives  ,january #c1         
#bjag,mr4 ,buchanan 7for himself1 ,mr4  
,renacci1 and ,mr4 ,diaz-,balart7       
introduced the following bill2 which was
 referred to the ,committee on ,ways and
 ,means  ,a ,,bill  ,to amend the       
,internal ,revenue ,code of #aihf to    
increase the limitations for deductible 
new business expenditures and to        
consolidate provisions for start-up and 
organizational expenditures4  #a4 ,short
 title ,this ,act may be cited as the   
,support ,our ,start-,ups ,act4  #b4    
,new business expenditures  7a7 ,in     
general ,subsections 7a7 and 7b7 of     
section #aie of the ,internal ,revenue  
,code of #aihf are both amended by      
inserting and organizational after      
start-up each place it appears4  7b7    
,organizational expenditures ,subsection
 7c7 of section #aie of such ,code is   
amended by adding at the end the        
following new paragraph3  7#c7          

,organizational expenditures ,the term  
organizational expenditures means any   
expenditure which-- 7,a7 is incident to 
the creation of a corporation or a      
partnership1  7,b7 is chargeable to     
capital account1 and  7,c7 is of a      
character which1 if expended incident to
 the creation of a corporation or a     
partnership having a limited life1 would
 be amortizable over such life4  4  7c7 
,dollar amounts ,clause 7ii7 of section 
#aie7;b77#a77;,a7 of such ,code is      
amended-- 7#a7 by striking #e1jjj and   
inserting #bj1jjj1 and  7#b7 by striking
 #ej1jjj and inserting #abj1jjj4  7d7   
,amortization treatment ,subparagraph   
7,b7 of section #aie7;b77#a7 of such    
,code1 as amended by subsection 7a71 is 
amended to read as follows3  7,b7 the   
remainder of such start-up and          
organizational expenditures shall be    
charged to capital account and allowed  
as an amortization deduction determined 
by amortizing such expenditures ratably 
over the #ae-year period beginning with 

the midpoint of the taxable year in     
which the active trade or business      
begins4  4  7e7 ,conforming amendments  
7#a7 ,section #aie7;b77#a7 of such ,code
 is amended-- 7,a7 by inserting 7or1 in 
the case of a partnership1 the          
partnership elects7 after ,if a taxpayer
 elects1 and  7,b7 by inserting 7or the 
partnership1 as the case may be7 after  
the taxpayer in subparagraph 7,a74  7#b7
 ,section #aie7;b77#b7 of such ,code is 
amended--  7,a7 by striking amortization
 period4--,in any case and inserting the
 following3 amortization period4-- 7,a7 
,in general ,in any case  1 and  7,b7 by
 adding at the end the following new    
subparagraph3  7,b7 ,special partnership
 rule ,in the case of a partnership1    
subparagraph 7,a7 shall be applied at   
the partnership level4  4  7#c7 ,section
 #aie7;b7 of such ,code is amended by   
striking paragraph 7#c74  7#d7  7,a7    
,part ,,viii of subchapter ,b of chapter
 #a of such ,code is amended by striking
 section #bdh 7and by striking the item 

relating to such section in the table of
 sections for such part74  7,b7 ,section
 #ef7;g77#d77;,d77ii7 of such ,code is  
amended by striking ,sections #agc and  
#bdh and inserting ,section #agc4  7,c7 
,section #agj7;b77#b77;,c77ii7 of such  
,code is amended by striking 7except    
section #bdh74  7,d7 ,section           
#cab7n77#c7 of such ,code is amended by 
striking ,sections #agc and #bdh and    
inserting ,section #agc4  7,e7 ,section 
#ece7;b77#c7 of such ,code is amended by
 striking 7except section #bdh74  7,f7  
,section #ede7;b77#c7 of such ,code is  
amended by striking 7except section     
#bdh74  7,g7 ,section #hcd7;c77#g7 of   
such ,code is amended by striking       
7except section #bdh74  7,h7 ,section   
#heb7;b77#b77;,c7 of such ,code is      
amended by striking 7except section     
#bdh74  7,i7 ,section #heg7;b77#b77;,a7 
of such ,code is amended by striking    
7except section #bdh74  7,j7 ,section   
#acfc7;b7 of such ,code is amended by   
inserting and at the end of paragraph   

7#b71 by striking paragraph 7#c71 and by
 redesignating paragraph 7#d7 as        
paragraph 7#c74  7,k7 ,section          
#acge7;b77#a77;,b77i7 of such ,code is  
amended by striking 7other than the     
deduction allowed by section #bdh1      
relating to organization expenditures74 
7#e7 ,part ,i of subchapter ,k of       
chapter #a of such ,code is amended by  
striking section #gji 7and by striking  
the item relating to such section in the
 table of sections for such part74  7#f7
 ,the heading of section #aie of such   
,code 7and the item relating to such    
section in the table of sections for    
part ,,vi of subchapter ,b of chapter #a
 of such ,code7 are each amended by     
inserting and organizational after      
,start-up4  7f7 ,effective date ,the    
amendments made by this section shall   
apply to expenses paid or incurred in   
taxable years beginning after ,december 
#ca1 #bjag4