I 

114TH CONGRESS 

1ST SESSION H. R. 636 

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 

A BILL 

To amend the Internal Revenue Code of 1986 to permanently 

extend increased expensing limitations, 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 ‘‘America’s Small Busi5 ness Tax Relief Act of 2015’’. 


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•HR 636 IH

1 SEC. 2. EXPENSING CERTAIN DEPRECIABLE BUSINESS AS2 SETS FOR SMALL BUSINESS. 

3 (a) IN GENERAL.— 

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

5 the Internal Revenue Code of 1986 is amended by 

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

7 and inserting ‘‘shall not exceed $500,000.’’. 

8 (2) REDUCTION IN LIMITATION.—Section 

9 179(b)(2) of such Code is amended by striking ‘‘ex10 ceeds—’’ and all that follows and inserting ‘‘exceeds 

11 $2,000,000.’’. 

12 (b) COMPUTER SOFTWARE.—Section 

13 179(d)(1)(A)(ii) of such Code is amended by striking ‘‘, 

14 to which section 167 applies, and which is placed in service 

15 in a taxable year beginning after 2002 and before 2015’’ 

16 and inserting ‘‘and to which section 167 applies’’. 

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

18 amended— 

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

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

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

22 thereof. 

23 (d) AIR CONDITIONING AND HEATING UNITS.—Sec24 tion 179(d)(1) of such Code is amended by striking ‘‘and 

25 shall not include air conditioning or heating units’’. 


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

2 such Code is amended— 

3 (1) by striking ‘‘beginning after 2009 and be4 fore 2015’’ in paragraph (1), and 

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

6 (f) INFLATION ADJUSTMENT.—Section 179(b) of 

7 such Code is amended by adding at the end the following 

8 new paragraph: 

9 ‘‘(6) INFLATION ADJUSTMENT.— 

10 ‘‘(A) IN GENERAL.—In the case of any 

11 taxable year beginning after 2015, the dollar 

12 amounts in paragraphs (1) and (2) shall each 

13 be increased by an amount equal to— 

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

15 ‘‘(ii) the cost-of-living adjustment de16 termined under section 1(f)(3) for the cal17 endar year in which the taxable year be18 gins, determined by substituting ‘calendar 

19 year 2014’ for ‘calendar year 1992’ in sub20 paragraph (B) thereof. 

21 ‘‘(B) ROUNDING.—The amount of any in22 crease under subparagraph (A) shall be round23 ed to the nearest multiple of $10,000.’’. 


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1 (g) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to taxable years beginning after 

3 December 31, 2014. 

4 SEC. 3. BUDGETARY EFFECTS. 

5 The budgetary effects of this Act shall not be entered 

6 on either PAYGO scorecard maintained pursuant to sec7 tion 4(d) of the Statutory Pay-As-You-Go Act of 2010. 

Æ 


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