S. 1149 — Introduced in Senate

II 117th CONGRESS 1st Session S. 1149 IN THE SENATE OF THE UNITED STATES April 15, 2021Mr. Inhofe (for himself, Mr. Rounds, Mr. Blunt, and Ms. Lummis) 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 permanently extend the depreciation rules for property used predominantly within an Indian reservation. 1. Permanent extension of depreciation rules for property on Indian reservations (a) In general Subsection (j) of section 168 of the Internal Revenue Code of 1986 is amended by striking paragraph (9). (b) Effective date The amendment made by this section shall apply to property placed in service after December 31, 2021.