I 

111TH CONGRESS 

2D SESSION H. R. 4655 

To amend the Internal Revenue Code of 1986 to provide a 1-year extension 

of the increased expensing of certain depreciable business assets and 

the special depreciation allowance for certain business property. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 23, 2010 

Mr. BRIGHT 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 

a 1-year extension of the increased expensing of certain 

depreciable business assets and the special depreciation 

allowance for certain business property. 

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 ‘‘Small Business Expan5 sion and Job Creation Act of 2010’’. 


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1 SEC. 2. EXTENSION OF INCREASE IN LIMITATION ON EX2 PENSING OF CERTAIN DEPRECIABLE BUSI3 NESS ASSETS. 

4 (a) EXTENSION OF INCREASED LIMITATIONS.— 

5 Paragraph (7) of section 179(b) of the Internal Revenue 

6 Code of 1986 is amended— 

7 (1) by striking ‘‘or 2009’’ and inserting ‘‘2009, 

8 or 2010’’, and 

9 (2) by striking ‘‘AND 2009’’ in the heading and 

10 inserting ‘‘2009, AND 2010’’. 

11 (b) EFFECTIVE DATE.—The amendments made by 

12 this section shall apply to taxable years beginning after 

13 December 31, 2009. 

14 SEC. 3. SPECIAL ALLOWANCE FOR CERTAIN PROPERTY AC15 QUIRED DURING 2010. 

16 (a) EXTENSION OF SPECIAL ALLOWANCE.— 

17 (1) IN GENERAL.—Paragraph (2) of section 

18 168(k) of the Internal Revenue Code of 1986 is 

19 amended— 

20 (A) by striking ‘‘January 1, 2011’’ and in21 serting ‘‘January 1, 2012’’, and 

22 (B) by striking ‘‘January 1, 2010’’ each 

23 place it appears and inserting ‘‘January 1, 

24 2011’’. 

25 (2) CONFORMING AMENDMENTS.— 


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1 (A) The heading for subsection (k) of sec2 tion 168 of such Code is amended by striking 

3 ‘‘2010’’ and inserting ‘‘2011’’. 

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

5 168(k)(2)(B) of such Code is amended by strik6 ing ‘‘PRE-JANUARY 1, 2010’’ and inserting ‘‘PRE7 JANUARY 1, 2011’’. 

8 (C) Subparagraph (B) of section 168(l)(5) 

9 of such Code is amended by striking ‘‘January 

10 1, 2009’’ and inserting ‘‘January 1, 2010’’. 

11 (D) Subparagraph (C) of section 168(n)(2) 

12 of such Code is amended by striking ‘‘January 

13 1, 2009’’ and inserting ‘‘January 1, 2010’’. 

14 (E) Subparagraph (B) of section 

15 1400N(d)(3) of such Code is amended by strik16 ing ‘‘January 1, 2009’’ and inserting ‘‘January 

17 1, 2010’’. 

18 (b) EXTENSION OF ELECTION TO ACCELERATE THE

19 AMT AND RESEARCH CREDITS IN LIEU OF BONUS DE20 PRECIATION.—Paragraph (4) of section 168(k) of such 

21 Code (relating to election to accelerate the AMT and re22 search credits in lieu of bonus depreciation) is amended— 

23 (1) by striking ‘‘January, 1, 2010’’ and insert24 ing ‘‘January 1, 2011’’ in subparagraph (D)(iii), 

25 and 


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1 (2) by adding at the end the following new sub2 paragraph: 

3 ‘‘(I) SPECIAL RULES FOR 2010 EXTENSION

4 PROPERTY.— 

5 ‘‘(i) TAXPAYERS PREVIOUSLY ELECT6 ING ACCELERATION.—In the case of a tax7 payer who made the election under sub8 paragraph (A) for its first taxable year 

9 ending after March 31, 2008, or under 

10 subparagraph (H) for its first taxable year 

11 ending after December 31, 2008— 

12 ‘‘(I) the taxpayer may elect not 

13 to have this paragraph apply to 2010 

14 extension property, but 

15 ‘‘(II) if the taxpayer does not 

16 make the election under subclause (I), 

17 in applying this paragraph to the tax18 payer a separate bonus depreciation 

19 amount, maximum amount, and max20 imum increase amount shall be com21 puted and applied to eligible qualified 

22 property which is 2010 extension 

23 property. 

24 ‘‘(ii) TAXPAYERS NOT PREVIOUSLY

25 ELECTING ACCELERATION.—In the case of 


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1 a taxpayer who did not make the election 

2 under subparagraph (A) for its first tax3 able year ending after March 31, 2008, or 

4 under subparagraph (H) for its first tax5 able year ending after December 31, 

6 2008— 

7 ‘‘(I) the taxpayer may elect to 

8 have this paragraph apply to its first 

9 taxable year ending after December 

10 31, 2009, and each subsequent tax11 able year, and 

12 ‘‘(II) if the taxpayer makes the 

13 election under subclause (I), this 

14 paragraph shall only apply to eligible 

15 qualified property which is 2010 ex16 tension property. 

17 ‘‘(iii) 2010 EXTENSION PROPERTY.— 

18 For purposes of this subparagraph, the 

19 term ‘2010 extension property’ means 

20 property which is eligible qualified property 

21 solely by reason of the extension of the ap22 plication of the special allowance under 

23 paragraph (1) pursuant to the amend24 ments made by section 2(a) of the Small 

25 Business Expansion and Job Creation Act 


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1 of 2010 (and the application of such exten2 sion to this paragraph pursuant to the 

3 amendment made by section 2(b)(1) of 

4 such Act).’’. 

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

6 this section shall apply to property placed in service after 

7 December 31, 2009, in taxable years ending after such 

8 date. 

Æ 


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