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- S.1298
S.1298: A bill to amend the Internal Revenue Code of 1986 to adjust the limits on expensing of certain depreciable business assets.
About This Bill
- This bill was introduced in the 113th Congress
- This bill is primarily about taxation
- Introduced July 16, 2013
- Latest Major Action July 16, 2013
Bill Sponsor
Bill Summary
Amends the Internal Revenue Code to increase, for taxable years beginning after 2013: (1) the limitation on the amount of the expensing allowance for depreciable business assets from $25,000 to $200,000, and (2) the threshold amount over which such expensing allowance is reduced from $200,000 to $800,000.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| July 16, 2013 |
Read twice and referred to the Committee on Finance.
|
| July 16, 2013 |
Introduced in the Senate by Mark Begich (D-Alaska) |