II 

Calendar No. 434 

113TH CONGRESS 

2D SESSION H. R. 4457 

IN THE SENATE OF THE UNITED STATES 

JUNE 16, 2014 

Received; read the first time 

JUNE 17, 2014 

Read the second time and placed on the calendar 

AN ACT 

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 2014’’. 

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

8 (a) IN GENERAL.— 


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HR 4457 PCS 

1 (1) DOLLAR LIMITATION.—Paragraph (1) of 

2 section 179(b) of the Internal Revenue Code of 1986 

3 is amended by striking ‘‘shall not exceed—’’ and all 

4 that follows and inserting ‘‘shall not exceed 

5 $500,000.’’. 

6 (2) REDUCTION IN LIMITATION.—Paragraph 

7 (2) of section 179(b) of such Code is amended by 

8 striking ‘‘exceeds—’’ and all that follows and insert9 ing ‘‘exceeds $2,000,000.’’. 

10 (b) COMPUTER SOFTWARE.—Clause (ii) of section 

11 179(d)(1)(A) of such Code is amended by striking ‘‘, to 

12 which section 167 applies, and which is placed in service 

13 in a taxable year beginning after 2002 and before 2014’’ 

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

15 (c) ELECTION.—Paragraph (2) of section 179(c) of 

16 such Code is amended— 

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

18 that follows through ‘‘and before 2014’’, and 

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

20 thereof. 

21 (d) AIR CONDITIONING AND HEATING UNITS.— 

22 Paragraph (1) of section 179(d) of such Code is amended 

23 by striking ‘‘and shall not include air conditioning or heat24 ing units’’. 


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HR 4457 PCS 

1 (e) QUALIFIED REAL PROPERTY.—Subsection (f) of 

2 section 179 of such Code is amended— 

3 (1) by striking ‘‘beginning in 2010, 2011, 2012, 

4 or 2013’’ in paragraph (1), and 

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

6 (f) INFLATION ADJUSTMENT.—Subsection (b) of sec7 tion 179 of such Code is amended by adding at the end 

8 the following new paragraph: 

9 ‘‘(6) INFLATION ADJUSTMENT.— 

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

11 taxable year beginning after 2014, 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(c)(2)(A) for such 

17 calendar year, determined by substituting 

18 ‘calendar year 2013’ for ‘calendar year 

19 2012’ in clause (ii) thereof. 

20 ‘‘(B) ROUNDING.—The amount of any in21 crease under subparagraph (A) shall be round22 ed to the nearest multiple of $10,000.’’. 

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

24 this section shall apply to taxable years beginning after 

25 December 31, 2013. 


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HR 4457 PCS 

1 SEC. 3. BUDGETARY EFFECTS. 

2 (a) STATUTORY PAY-AS-YOU-GO SCORECARDS.—The 

3 budgetary effects of this Act shall not be entered on either 

4 PAYGO scorecard maintained pursuant to section 4(d) of 

5 the Statutory Pay-As-You-Go Act of 2010. 

6 (b) SENATE PAYGO SCORECARDS.—The budgetary 

7 effects of this Act shall not be entered on any PAYGO 

8 scorecard maintained for purposes of section 201 of S. 

9 Con. Res. 21 (110th Congress). 

Passed the House of Representatives June 12, 2014. 

Attest: KAREN L. HAAS, 

Clerk. 


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Calendar No. 434 

113TH CONGRESS 

2D SESSION H. R. 4457 

AN ACT 

To amend the Internal Revenue Code of 1986 to 

tions, and for other purposes. permanently extend increased expensing limitaJUNE 17, 2014 

Read the second time and placed on the calendar 


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