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- S.1197
S.1197: Tax Depreciation, Modernization, and Simplification Act of 2007
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced April 24, 2007
- Latest Major Action April 24, 2007
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsor
Bill Summary
Tax Depreciation, Modernization, and Simplification Act of 2007 - Amends the Internal Revenue Code to: (1) authorize the Secretary of the Treasury to modify or create new class lives for depreciable business assets that reasonably reflect anticipated useful life and decline in value; (2) eliminate the mid-quarter accounting convention for determining depreciation; (3) allow an election to consolidate, in a mass asset account, the accounting of...
(Source: Library of Congress)
Bill Actions
| Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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| April 24, 2007 |
Introduced in the Senate by John Kerry (D-Mass.) |