IB 

Union Calendar No. 15 

114TH CONGRESS 

1ST SESSION H. R. 636 

[Report No. 114–21, Part I] 

To amend the Internal Revenue Code of 1986 to permanently extend 

increased expensing limitations, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 2, 2015 

Mr. TIBERI (for himself, Mr. KIND, Mr. YOUNG of Indiana, Mr. NEAL, Mr. 

SCHOCK, Mr. DANNY K. DAVIS of Illinois, Mr. REED, and Mr. SMITH

of Missouri) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on the 

Budget, for a period to be subsequently determined by the Speaker, in 

each case for consideration of such provisions as fall within the jurisdiction of the committee concerned 

FEBRUARY 9, 2015 

Additional sponsors: Mr. BLUM, Mr. COSTELLO of Pennsylvania, Mr. 

DESJARLAIS, Mr. SMITH of Nebraska, Mr. KLINE, Mrs. BUSTOS, and 

Mr. EMMER

FEBRUARY 9, 2015 

Reported from the Committee on Ways and Means with an amendment 

[Strike out all after the enacting clause and insert the part printed in italic] 

FEBRUARY 9, 2015 

The Committee on the Budget discharged; committed to the Committee of the 

Whole House on the State of the Union and ordered to be printed 

[For text of introduced bill, see copy of bill as introduced on February 2, 2015] 

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A BILL 

To amend the Internal Revenue Code of 1986 to permanently 

extend increased expensing limitations, and for other 

purposes. 

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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 ‘‘America’s Small Busi5 ness Tax Relief Act of 2015’’. 

6 SEC. 2. EXPENSING CERTAIN DEPRECIABLE BUSINESS AS7 SETS FOR SMALL BUSINESS. 

8 (a) IN GENERAL.— 

9 (1) DOLLAR LIMITATION.—Section 179(b)(1) of 

10 the Internal Revenue Code of 1986 is amended by 

11 striking ‘‘shall not exceed—’’ and all that follows and 

12 inserting ‘‘shall not exceed $500,000.’’. 

13 (2) REDUCTION IN LIMITATION.—Section 

14 179(b)(2) of such Code is amended by striking ‘‘ex15 ceeds—’’ and all that follows and inserting ‘‘exceeds 

16 $2,000,000.’’. 

17 (b) COMPUTER SOFTWARE.—Section 179(d)(1)(A)(ii) 

18 of such Code is amended by striking ‘‘, to which section 

19 167 applies, and which is placed in service in a taxable 

20 year beginning after 2002 and before 2015’’ and inserting 

21 ‘‘and to which section 167 applies’’. 

22 (c) ELECTION.—Section 179(c)(2) of such Code is 

23 amended— 

24 (1) by striking ‘‘may not be revoked’’ and all 

25 that follows through ‘‘and before 2015’’, and 

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1 (2) by striking ‘‘IRREVOCABLE’’ in the heading 

2 thereof. 

3 (d) AIR CONDITIONING AND HEATING UNITS.—Section 

4 179(d)(1) of such Code is amended by striking ‘‘and shall 

5 not include air conditioning or heating units’’. 

6 (e) QUALIFIED REAL PROPERTY.—Section 179(f) of 

7 such Code is amended— 

8 (1) by striking ‘‘beginning after 2009 and before 

9 2015’’ in paragraph (1), and 

10 (2) by striking paragraphs (3) and (4). 

11 (f) INFLATION ADJUSTMENT.—Section 179(b) of such 

12 Code is amended by adding at the end the following new 

13 paragraph: 

14 ‘‘(6) INFLATION ADJUSTMENT.— 

15 ‘‘(A) IN GENERAL.—In the case of any tax16 able year beginning after 2015, the dollar 

17 amounts in paragraphs (1) and (2) shall each be 

18 increased by an amount equal to— 

19 ‘‘(i) such dollar amount, multiplied by 

20 ‘‘(ii) the cost-of-living adjustment de21 termined under section 1(f)(3) for the cal22 endar year in which the taxable year be23 gins, determined by substituting ‘calendar 

24 year 2014’ for ‘calendar year 1992’ in sub25 paragraph (B) thereof. 

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1 ‘‘(B) ROUNDING.—The amount of any in2 crease under subparagraph (A) shall be rounded 

3 to the nearest multiple of $10,000.’’. 

4 (g) EFFECTIVE DATE.—The amendments made by this 

5 section shall apply to taxable years beginning after Decem6 ber 31, 2014. 

7 SEC. 3. BUDGETARY EFFECTS. 

8 The budgetary effects of this Act shall not be entered 

9 on either PAYGO scorecard maintained pursuant to section 

10 4(d) of the Statutory Pay-As-You-Go Act of 2010. 

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Union Calendar No. 15 

114TH CONGRESS 

1ST SESSION H. R. 636 

[Report No. 114–21, Part I] 

A BILL 

To amend the Internal Revenue Code of 1986 to 

tions, and for other purposes. permanently extend increased expensing limitaFEBRUARY 9, 2015 

Reported from the Committee on Ways and Means with 

an amendment 

FEBRUARY 9, 2015 

The Committee on the Budget discharged; committed to 

Union and ordered to be printed the Committee of the Whole House on the State of the 

mstockstill on DSK4VPTVN1PROD with BILLS