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- S.304
S.304: Main Street Recovery Act
About This Bill
- This bill was introduced in the 111th Congress
- This bill is primarily about taxation
- Introduced Jan. 22, 2009
- Latest Major Action Jan. 22, 2009
Bill Sponsor
Bill Summary
Main Street Recovery Act - Provides for a 15% investment tax credit through June 30, 2010, for the purchase of business equipment and machinery. Amends the Internal Revenue Code to: (1) extend through June 30, 2010, the additional 50% depreciation allowance (bonus depreciation) for business and investment property; (2) allow such depreciation for nonresidential real property or residential rental property; and (3) extend through 2010 the...
(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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| Jan. 22, 2009 |
Introduced in the Senate by Byron L. Dorgan (D-N.D.) |