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- H.R.2981
H.R.2981: To amend the Internal Revenue Code of 1986 to establish a 2-year recovery period for depreciation of computers and other technological equipment, a 24-month useful life for depreciation of computer software, and a 7-year useful life for depreciation of certain auction-acquired telecommunications licenses.
About This Bill
- This bill was introduced in the 107th Congress
- This bill is primarily about taxation
- Introduced Oct. 2, 2001
- Latest Major Action Oct. 2, 2001
Bill Sponsor
Bill Cosponsors
57 (7 Democrats, 51 Republicans)
Bill Summary
Amends the Internal Revenue Code to establish a two year recovery period for depreciation of computers and other technological equipment. Reduces the recovery period from five to two years under the alternative depreciation system for certain property ( tax-exempt use property, etc.). Reduces the useful life for depreciation of computer software from 36 to 24 months.Establishes a seven year useful life for depreciation of certain...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| Oct. 2, 2001 |
Introduced in the House by Fred Upton (R-Mich.) |