Pipeline · Bill → Law
Step 1
Introduced
Feb 9, 2023
Step 2
Referred
Feb 9, 2023
Finance
Step 3
Committee
Step 4
Senate
Step 5
House floor
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill allows permanent expensing of qualified property (i.e., property with a recovery period of 20 years or less and that is computer software, water utility property, or film, television, or live theatrical production property). It also modifies depreciation provisions for residential rental property and nonresidential real property. The bill repeals provisions for the amortization of research and experimental expenditures, thus providing for direct expensing of such expenditures.
Timeline · 2 actions
Feb 9, 2023
Introduced in Senate
Feb 9, 2023
Read twice and referred to the Committee on Finance.