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- S.2572
S.2572: A bill to amend the Internal Revenue Code of 1986 to provide for bonus depreciation or an additional minimum tax credit in lieu of such bonus depreciation.
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced Jan. 30, 2008
- Latest Major Action Jan. 30, 2008
Bill Sponsor
Bill Summary
Amends the Internal Revenue Code to: (1) increase from 30 to 50% the rate of the special depreciation allowance (bonus depreciation) for certain business equipment and assets placed in service in 2008; and (2) allow a corporation to elect to increase its alternative minimum tax credit by its bonus depreciation amount in lieu of applying such allowance.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Read twice and referred to the Committee on Finance.
|
|
| Jan. 30, 2008 |
Introduced in the Senate by George V. Voinovich (R-Ohio) |