Pipeline · Bill → Law
Step 1
Introduced
Jun 9, 2023
Step 2
Referred
Jun 9, 2023
Ways & Means
Step 3
Committee
Jun 13, 2023
Reported out
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill provides for tax incentives to encourage investment in the United States. The bill permits the expensing of research and experimental expenditures (including software development costs) through 2025. It extends (1) the allowance for depreciation, amortization, or depletion in determining the limitation on business interest; and (2) the 100% bonus depreciation allowance. The bill terminates the hazardous substance Superfund financing rate. It allows a taxpayer election to disregard specified regulations when determining if any tax is an income, war profits, or excess profits tax. The bill imposes a 60% excise tax on buyers of U.S. farmland by citizens of a country of concern (e.g...
3 provisions
3 provisions
5 provisions
Timeline · 6 actions
Jun 30, 2023
Reported (Amended) by the Committee on Ways and Means. H. Rept. 118-127.
Jun 30, 2023
Placed on the Union Calendar, Calendar No. 99.
Jun 13, 2023
Committee Consideration and Mark-up Session Held
Jun 13, 2023
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 24 - 18.
Jun 9, 2023
Introduced in House
Jun 9, 2023
Referred to the House Committee on Ways and Means.