I 

113TH CONGRESS 

1ST SESSION H. R. 2373 

To amend the Internal Revenue Code of 1986 to provide individual and 

corporate income tax relief and to extend 100 percent bonus depreciation, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 14, 2013 

Mr. BROUN of Georgia (for himself, Mr. WESTMORELAND, Mr. CHABOT, Mr. 

LAMBORN, Mr. GOHMERT, Mr. FRANKS of Arizona, and Mr. LONG) introduced the following bill; which was referred to the Committee on Ways 

and Means 

A BILL 

To amend the Internal Revenue Code of 1986 to provide 

individual and corporate income tax relief and to extend 

100 percent bonus depreciation, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Jumpstarting Our 

5 Business Sector Act of 2013’’. 


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1 SEC. 2. CORPORATE INCOME TAX RATES REDUCED TO 

2 ZERO. 

3 (a) REGULAR TAX.—Subsection (b) of section 11 of 

4 the Internal Revenue Code of 1986 is amended to read 

5 as follows: 

6 ‘‘(b) AMOUNT OF TAX.—The amount of the tax im7 posed by subsection (a) shall be 0 percent of taxable in8 come.’’. 

9 (b) ALTERNATIVE MINIMUM TAX.—Section 

10 55(b)(1)(B)(i) of such Code is amended by striking ‘‘20 

11 percent’’ and inserting ‘‘0 percent’’. 

12 (c) EFFECTIVE DATE.—The amendments made by 

13 this section shall apply to taxable years beginning after 

14 December 31, 2013. 

15 SEC. 3. EXCLUSION FOR NET CAPITAL GAIN. 

16 (a) IN GENERAL.—Part III of subchapter B of chap17 ter 1 of the Internal Revenue Code of 1986 (relating to 

18 items specifically excluded from gross income) is amended 

19 by inserting before section 101 the following new section: 

20 ‘‘SEC. 100. EXCLUSION FOR NET CAPITAL GAIN. 

21 ‘‘Gross income shall not include net capital gain.’’. 

22 (b) CONFORMING AMENDMENTS.— 

23 (1) Section 1 of such Code is amended by strik24 ing subsection (h). 

25 (2) Subchapter P of chapter 1 of such Code is 

26 amended by striking part I. 


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1 (3) The table of sections for part III of sub2 chapter B of chapter 1 of such Code is amended by 

3 inserting before the first item the following new 

4 item: 

‘‘Sec. 100. Exclusion for net capital gain.’’. 

5 (4) The table of parts for subchapter P of chap6 ter 1 of such Code is amended by striking the item 

7 relating to part I. 

8 (c) EFFECTIVE DATE.—The amendments made by 

9 this section shall apply to taxable years ending after the 

10 date of the enactment of this Act. 

11 SEC. 4. 3-YEAR EXTENSION OF BONUS DEPRECIATION AND 

12 100 PERCENT EXPENSING FOR CERTAIN BUSI13 NESS ASSETS. 

14 (a) IN GENERAL.— 

15 (1) BONUS DEPRECIATION.—Paragraph (2) of 

16 section 168(k) of the Internal Revenue Code of 1986 

17 is amended— 

18 (A) by striking ‘‘January 1, 2015’’ in sub19 paragraph (A)(iv) and inserting ‘‘January 1, 

20 2018’’, and 

21 (B) by striking ‘‘January 1, 2014’’ each 

22 place it appears and inserting ‘‘January 1, 

23 2017’’. 

24 (2) 100 PERCENT EXPENSING.—Paragraph (5) 

25 of section 168(k) is amended to read as follows: 


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1 ‘‘(5) TEMPORARY 100 PERCENT BONUS DEPRE2 CIATION.—Paragraph (1)(A) shall be applied by sub3 stituting ‘100 percent’ for ‘50 percent’ in the case 

4 of qualified property— 

5 ‘‘(A) which is acquired by the taxpayer 

6 (under rules similar to the rules of clauses (ii) 

7 and (iii) of paragraph (2)(A))— 

8 ‘‘(i) after September 8, 2010, and be9 fore January 1, 2012, or 

10 ‘‘(ii) after December 31, 2012, and 

11 before January 1, 2018, and 

12 ‘‘(B) which is placed in service by the tax13 payer— 

14 ‘‘(i) before January 1, 2012 (January 

15 1, 2013, in the case of property described 

16 in subparagraph (2)(B) or (2)(C)), or 

17 ‘‘(ii) in the case of property described 

18 in subparagraph (A)(ii), before January 1, 

19 2017 (January 1, 2018, in the case of 

20 property described in subparagraph (2)(B) 

21 or (2)(C)).’’. 

22 (b) SPECIAL RULES RELATING TO ELECTION TO AC23 CELERATE AMT CREDIT IN LIEU OF BONUS DEPRECIA24 TION.— 


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1 (1) IN GENERAL.—Subclause (II) of section 

2 168(k)(4)(D)(iii) of such Code is amended by strik3 ing ‘‘2014’’ and inserting ‘‘2017’’. 

4 (2) ROUND 4 EXTENSION PROPERTY.—Para5 graph (4) of section 168(k) of such Code is amended 

6 by adding at the end the following new subpara7 graph: 

8 ‘‘(K) SPECIAL RULES FOR ROUND 4 EX9 TENSION PROPERTY.— 

10 ‘‘(i) IN GENERAL.—In the case of 

11 round 4 extension property, this paragraph 

12 shall be applied without regard to— 

13 ‘‘(I) the limitation described in 

14 subparagraph (B)(i) thereof, and 

15 ‘‘(II) the business credit increase 

16 amount under subparagraph (E)(iii) 

17 thereof. 

18 ‘‘(ii) TAXPAYERS PREVIOUSLY ELECT19 ING ACCELERATION.—In the case of a tax20 payer who made the election under sub21 paragraph (A) for its first taxable year 

22 ending after March 31, 2008, a taxpayer 

23 who made the election under subparagraph 

24 (H)(ii) for its first taxable year ending 

25 after December 31, 2008, a taxpayer who 


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1 made the election under subparagraph 

2 (I)(iii) for its first taxable year ending 

3 after December 31, 2010, or a taxpayer 

4 who made the election under subparagraph 

5 (J)(iii) for its first taxable year ending 

6 after December 31, 2012— 

7 ‘‘(I) the taxpayer may elect not 

8 to have this paragraph apply to round 

9 4 extension property, but 

10 ‘‘(II) if the taxpayer does not 

11 make the election under subclause (I), 

12 in applying this paragraph to the tax13 payer the bonus depreciation amount, 

14 maximum amount, and maximum in15 crease amount shall be computed and 

16 applied to eligible qualified property 

17 which is round 4 extension property. 

18 The amounts described in subclause (II) 

19 shall be computed separately from any 

20 amounts computed with respect to eligible 

21 qualified property which is not round 4 ex22 tension property. 

23 ‘‘(iii) TAXPAYERS NOT PREVIOUSLY

24 ELECTING ACCELERATION.—In the case of 

25 a taxpayer who neither made the election 


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1 under subparagraph (A) for its first tax2 able year ending after March 31, 2008, 

3 nor made the election under subparagraph 

4 (H)(ii) for its first taxable year ending 

5 after December 31, 2008, nor made the 

6 election under subparagraph (I)(iii) for any 

7 taxable year ending after December 31, 

8 2010, nor made the election under sub9 paragraph (J)(iii) for its first taxable year 

10 ending after December 31, 2012— 

11 ‘‘(I) the taxpayer may elect to 

12 have this paragraph apply to its first 

13 3 taxable years ending after December 

14 31, 2013, and each subsequent tax15 able year, and 

16 ‘‘(II) if the taxpayer makes the 

17 election under subclause (I), this 

18 paragraph shall only apply to eligible 

19 qualified property which is round 4 

20 extension property. 

21 ‘‘(iv) ROUND 4 EXTENSION PROP22 ERTY.—For purposes of this subpara23 graph, the term ‘round 4 extension prop24 erty’ means property which is eligible 

25 qualified property solely by reason of the 


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1 extension of the application of the special 

2 allowance under paragraph (1) pursuant to 

3 the amendments made by section 4(a)(1) 

4 of the Jumpstarting Our Business Sector 

5 Act of 2013 (and the application of such 

6 extension to this paragraph pursuant to 

7 the amendment made by section 4(b)(1) of 

8 such Act).’’. 

9 (3) CONFORMING AMENDMENTS.— 

10 (A) The heading for subsection (k) of sec11 tion 168 of such Code is amended by striking 

12 ‘‘JANUARY 1, 2014’’ and inserting ‘‘JANUARY

13 1, 2017’’. 

14 (B) The heading for clause (ii) of section 

15 168(k)(2)(B) of such Code is amended by strik16 ing ‘‘PRE-JANUARY 1, 2014’’ and inserting ‘‘PRE17 JANUARY 1, 2017’’. 

18 (C) Subparagraph (C) of section 168(n)(2) 

19 of such Code is amended by striking ‘‘January 

20 1, 2014’’ and inserting ‘‘January 1, 2017’’. 

21 (D) Subparagraph (D) of section 

22 1400L(b)(2) of such Code is amended by strik23 ing ‘‘January 1, 2014’’ and inserting ‘‘January 

24 1, 2017’’. 


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1 (E) Subparagraph (B) of section 

2 1400N(d)(3) of such Code is amended by strik3 ing ‘‘January 1, 2014’’ and inserting ‘‘January 

4 1, 2017’’. 

5 (c) EFFECTIVE DATE.—The amendments made by 

6 this section shall apply to property placed in service after 

7 December 31, 2013, in taxable years ending after such 

8 date. 

9 SEC. 5. REPEAL OF ESTATE AND GIFT TAXES. 

10 (a) IN GENERAL.—Subtitle B of the Internal Rev11 enue Code of 1986 (relating to estate, gift, and genera12 tion-skipping taxes ) is hereby repealed. 

13 (b) EFFECTIVE DATE.—The repeal made by sub14 section (a) shall apply to estates of decedents dying, gifts 

15 made, and generation-skipping transfers made after the 

16 date of the enactment of this Act. 

Æ 


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