I 

111TH CONGRESS 

1ST SESSION H. R. 533 

To make full estate tax repeal, small business expensing, and SECA tax 

deduction for health insurance permanent. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 14, 2009 

Mr. NEUGEBAUER introduced the following bill; which was referred to the 

Committee on Ways and Means 

A BILL 

To make full estate tax repeal, small business expensing, 

and SECA tax deduction for health insurance permanent. 

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 ‘‘Opportunity for Fam5 ily Farms and Small Businesses Act of 2009’’. 

6 SEC. 2. ESTATE TAX REPEAL MADE PERMANENT. 

7 Section 901 of the Economic Growth and Tax Relief 

8 Reconciliation Act of 2001 shall not apply to title V of 

9 such Act. 


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1 SEC. 3. INCREASED EXPENSING FOR SMALL BUSINESS 

2 MADE PERMANENT. 

3 (a) IN GENERAL.—Paragraph (1) of section 179(b) 

4 of the Internal Revenue Code of 1986 (relating to dollar 

5 limitation) is amended by striking ‘‘$25,000 ($125,000 in 

6 the case of taxable years beginning after 2006 and before 

7 2011)’’ and inserting ‘‘$200,000’’. 

8 (b) PHASEOUT OF LIMITATION ONLY BY 50 PER9 CENT OF EXCESS OVER $800,000.—Paragraph (2) of sec10 tion 179(b) of such Code (relating to reduction in limita11 tion) is amended to read as follows: 

12 ‘‘(2) REDUCTION IN LIMITATION.—The limita13 tion under paragraph (1) for any taxable year shall 

14 be reduced (but not below zero) by one-half of the 

15 amount by which the cost of section 179 property 

16 placed in service during such taxable year exceeds 

17 $800,000.’’. 

18 (c) REBASING OF INFLATION ADJUSTMENTS.—Sec19 tion 179(b)(5)(A) of such Code (relating to inflation ad20 justments) is amended— 

21 (1) in the matter preceding clause (i) by strik22 ing ‘‘2007 and before 2011, the $125,000 and 

23 $500,000’’ and inserting ‘‘2009, the $200,000 and 

24 $800,000’’, and 

25 (2) in clause (ii) by striking ‘‘calendar year 

26 2006’’ and inserting ‘‘calendar year 2008’’. 


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1 (d) REVOCATION OF ELECTION MADE PERMA2 NENT.—Section 179(c)(2) of such Code (relating to elec3 tion irrevocable) is amended by striking ‘‘and before 

4 2011’’. 

5 (e) OFF-THE-SHELF COMPUTER SOFTWARE.—Sec6 tion 179(d)(1)(A)(ii) of such Code (relating to section 179 

7 property) is amended by striking ‘‘and before 2011’’. 

8 (f) EFFECTIVE DATE.—The amendments made by 

9 this section shall apply to property placed in service in 

10 taxable years beginning after December 31, 2008. 

11 SEC. 4. SECA TAX DEDUCTION FOR HEALTH INSURANCE 

12 COSTS. 

13 (a) IN GENERAL.—Subsection (l) of section 162 of 

14 the Internal Revenue Code of 1986 (relating to special 

15 rules for health insurance costs of self-employed individ16 uals) is amended by striking paragraph (4) and by redes17 ignating paragraph (5) as paragraph (4). 

18 (b) EFFECTIVE DATE.—The amendment made by 

19 this section shall apply to taxable years beginning after 

20 the date of the enactment of this Act. 

Æ 


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