IB 

Union Calendar No. 320 

113TH CONGRESS 

2D SESSION H. R. 4457 

[Report No. 113–432] 

To amend the Internal Revenue Code of 1986 to permanently extend 

increased expensing limitations, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 10, 2014 

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

GERLACH, Mr. DANNY K. DAVIS of Illinois, and Mr. SCHOCK) introduced 

the following bill; which was referred to the Committee on Ways and 

Means 

MAY 2, 2014 

Additional sponsors: Mr. NEUGEBAUER, Mrs. BUSTOS, Mr. REED, Mr. 

LOEBSACK, Mr. KELLY of Pennsylvania, Mr. GRIFFIN of Arkansas, Mr. 

RIBBLE, Mr. SMITH of Nebraska, Mr. CRAMER, Mr. SMITH of Missouri, 

and Mr. MURPHY of Florida 

MAY 2, 2014 

Reported with an amendment, committed to the Committee of the Whole 

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

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


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•HR 4457 RH

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 2014’’. 

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

8 (a) IN GENERAL.— 

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

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

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

12 that follows and inserting ‘‘shall not exceed 

13 $500,000.’’. 

14 (2) REDUCTION IN LIMITATION.—Paragraph 

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

16 striking ‘‘exceeds—’’ and all that follows and insert17 ing ‘‘exceeds $2,000,000.’’. 

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

19 179(d)(1)(A) of such Code is amended by striking ‘‘, to 

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

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

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

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

24 such Code is amended— 


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

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

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

4 thereof. 

5 (d) AIR CONDITIONING AND HEATING UNITS.— 

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

7 by striking ‘‘and shall not include air conditioning or heat8 ing units’’. 

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

10 such Code is amended— 

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

12 or 2013’’ in paragraph (1), and 

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

14 (f) INFLATION ADJUSTMENT.—Subsection (b) of sec15 tion 179 of such Code is amended by adding at the end 

16 the following new paragraph: 

17 ‘‘(6) INFLATION ADJUSTMENT.— 

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

19 taxable year beginning after 2014, the dollar 

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

21 be increased by an amount equal to— 

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

23 ‘‘(ii) the cost-of-living adjustment de24 termined under section 1(c)(2)(A) for such 

25 calendar year, determined by substituting 


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•HR 4457 RH

1 ‘calendar year 2013’ for ‘calendar year 

2 2012’ in clause (ii) thereof. 

3 ‘‘(B) ROUNDING.—The amount of any in4 crease under subparagraph (A) shall be round5 ed to the nearest multiple of $10,000.’’. 

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

7 this section shall apply to taxable years beginning after 

8 December 31, 2013. 

9 SECTION 1. SHORT TITLE. 

10 This Act may be cited as the ‘‘America’s Small Busi11 ness Tax Relief Act of 2014’’. 

12 SEC. 2. EXPENSING CERTAIN DEPRECIABLE BUSINESS AS13 SETS FOR SMALL BUSINESS. 

14 (a) IN GENERAL.— 

15 (1) DOLLAR LIMITATION.—Paragraph (1) of sec16 tion 179(b) of the Internal Revenue Code of 1986 is 

17 amended by striking ‘‘shall not exceed—’’ and all that 

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

19 (2) REDUCTION IN LIMITATION.—Paragraph (2) 

20 of section 179(b) of such Code is amended by striking 

21 ‘‘exceeds—’’ and all that follows and inserting ‘‘ex22 ceeds $2,000,000.’’. 

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

24 179(d)(1)(A) of such Code is amended by striking ‘‘, to 

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


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

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

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

4 such Code is amended— 

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

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

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

8 thereof. 

9 (d) AIR CONDITIONING AND HEATING UNITS.—Para10 graph (1) of section 179(d) of such Code is amended by 

11 striking ‘‘and shall not include air conditioning or heating 

12 units’’. 

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

14 section 179 of such Code is amended— 

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

16 or 2013’’ in paragraph (1), and 

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

18 (f) INFLATION ADJUSTMENT.—Subsection (b) of sec19 tion 179 of such Code is amended by adding at the end 

20 the following new paragraph: 

21 ‘‘(6) INFLATION ADJUSTMENT.— 

22 ‘‘(A) IN GENERAL.—In the case of any tax23 able year beginning after 2014, the dollar 

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

25 increased by an amount equal to— 


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

2 ‘‘(ii) the cost-of-living adjustment de3 termined under section 1(c)(2)(A) for such 

4 calendar year, determined by substituting 

5 ‘calendar year 2013’ for ‘calendar year 

6 2012’ in clause (ii) thereof. 

7 ‘‘(B) ROUNDING.—The amount of any in8 crease under subparagraph (A) shall be rounded 

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

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

11 section shall apply to taxable years beginning after Decem12 ber 31, 2013. 


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Union Calendar No. 320 

113TH CONGRESS 

2D SESSION H. R. 4457 

[Report No. 113–432] 

A BILL 

To amend the Internal Revenue Code of 1986 to 

tions, and for other purposes. permanently extend increased expensing limitaMAY 2, 2014 

Reported with an amendment, committed to the Comand ordered to be printed mittee of the Whole House on the State of the Union, 


tkelley on DSK3SPTVN1PROD with BILLS