Amends the Internal Revenue Code to: (1) make permanent the additional 50% depreciation allowance (bonus depreciation) for qualified property (i.e., property which has a recovery period of 20 years or less and is computer software, water utility property, or qualified leasehold or retail improvement property); (2) make permanent the election to increase the alternative minimum tax (AMT) credit limitation in lieu of bonus depreciation; and (3) allow an additional depreciation allowance for a tree or vine bearing fruits or nuts, in the taxable year in which the tree or vine is planted, or grafted to a plant, in the ordinary course of the taxpayer's farming business.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2014-07-15 | Calendars | Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 465. | Senate |
| 2014-07-14 | Calendars | Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time. | Senate |
| 2014-07-11 | Vote | On passage Passed by recorded vote: 258 - 160 (Roll no. 404). (text: CR H6110-6112) | House floor actions |
| 2014-07-11 | Floor | Motion to reconsider laid on the table Agreed to without objection. | House floor actions |
| 2014-07-11 | Vote | On motion to recommit with instructions Failed by the Yeas and Nays: 191 - 229 (Roll no. 403). (consideration: CR H6120-6121) | House floor actions |
| 2014-07-11 | Floor | The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H6120) | House floor actions |
| 2014-07-11 | Floor | DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions, pending the reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to extend Bonus Depreciation for 2 additional years instead of a permanent extention. The reservation of a point of order was subsequently withdrawn. | House floor actions |
| 2014-07-11 | Floor | Mr. Neal moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H6119-6121; text: CR H6119) | House floor actions |
| 2014-07-11 | Floor | The previous question was ordered pursuant to the rule. (consideration: CR H6119) | House floor actions |
| 2014-07-11 | Floor | POINT OF ORDER - Mr. Van Hollen raised a point of order against consideration of H.R. 4718 by stating that the bill violated the provisions of the Congressional Budget Act. Subsequently, the Chair ruled that the provisions of H. Res. 661 which provide for the consideration of H.R. 4718, waive all points of order against consideration of the bill. | House floor actions |
| 2014-07-11 | Floor | DEBATE - The House proceeded with one hour of debate on H.R. 4718. | House floor actions |
| 2014-07-11 | Floor | The resolution provides for the consideration of H.R. 5016 and H.R. 4718. The resolution provides for one hour of debate for each bill. Amendments may be offered to H.R. 5016, however no amendments are in order for H.R. 4718 except for the amendment in the nature of a substitute recommended by the Committee on Ways and Means and modified by the amendment printed in House Report 113-517. One motion to recommit is allowed for each bill. | House floor actions |
| 2014-07-11 | Floor | Considered under the provisions of rule H. Res. 661. (consideration: CR H6110-6121) | House floor actions |
| 2014-07-10 | Floor | Rule H. Res. 661 passed House. | House floor actions |
| 2014-07-09 | Floor | Rules Committee Resolution H. Res. 661 Reported to House. The resolution provides for the consideration of H.R. 5016 and H.R. 4718. The resolution provides for one hour of debate for each bill. Amendments may be offered to H.R. 5016, however no amendments are in order for H.R. 4718 except for the amendment in the nature of a substitute recommended by the Committee on Ways and Means and modified by the amendment printed in House Report 113-517. One motion to recommit is allowed for each bill. | House floor actions |
| 2014-07-03 | Calendars | Placed on the Union Calendar, Calendar No. 381. | House floor actions |
| 2014-07-03 | Committee | Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-509. | House floor actions |
| 2014-05-29 | Committee | Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 23 - 11. | House committee actions |
| 2014-05-29 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2014-05-22 | IntroReferral | Referred to the House Committee on Ways and Means. | House floor actions |
| 2014-05-22 | IntroReferral | Introduced in House | Library of Congress |