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- S.1578
S.1578: A bill to amend the Internal Revenue Code of 1986 to classify qualified rental office furniture as 5-year property for purposes of depreciation.
About This Bill
- This bill was introduced in the 108th Congress
- This bill is primarily about taxation
- Introduced Sept. 3, 2003
- Latest Major Action Sept. 3, 2003
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Summary
Amends the Internal Revenue Code to classify as five-year property for depreciation purposes any qualified rental office furniture held by an office furniture rental dealer primarily for leasing to customers by means of a short-term rental contract. States that options to renew such a contract at the same or greater price shall not be taken into account in determining a lease term for such purposes.
(Source: Library of Congress)
Bill Actions
Date | Description |
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Read twice and referred to the Committee on Finance.
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Sept. 3, 2003 |
Introduced in the Senate by John B. Breaux (D-La.) |