I 
113TH CONGRESS 
2D SESSION 
H. R. 4743 
To amend the Internal Revenue Code of 1986 to provide for an extension 
of bonus depreciation. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 23, 2014 
Mr. LARSON of Connecticut (for himself and Mr. NEAL) 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 
for an extension of bonus depreciation. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Bonus Depreciation 
Extension Act of 2014’’. 
SEC. 2. EXTENSION OF BONUS DEPRECIATION. 
(a) IN GENERAL.—Paragraph (2) of section 168(k) 
of the Internal Revenue Code of 1986 is amended— 
(1) by striking ‘‘January 1, 2015’’ in subpara-
graph (A)(iv) and inserting ‘‘January 1, 2017’’, and 
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(2) by striking ‘‘January 1, 2014’’ each place 
it appears and inserting ‘‘January 1, 2016’’. 
(b) SPECIAL RULE FOR FEDERAL LONG-TERM CON-
TRACTS.—Clause (ii) of section 460(c)(6)(B) of such Code 
is amended by striking ‘‘January 1, 2014 (January 1, 
2015’’ and inserting ‘‘January 1, 2016 (January 1, 
2017’’. 
(c) EXPANSION OF ELECTION TO ACCELERATE AMT 
CREDITS IN LIEU OF BONUS DEPRECIATION.—Section 
168(k)(4) of such Code is amended to read as follows: 
‘‘(4) ELECTION TO ACCELERATE AMT CREDITS 
IN LIEU OF BONUS DEPRECIATION.— 
‘‘(A) IN GENERAL.—If a corporation elects 
to have this paragraph apply for any taxable 
year— 
‘‘(i) paragraphs (1) and (2)(F)(i) 
shall not apply for such taxable year, 
‘‘(ii) the applicable depreciation meth-
od used under this section with respect to 
any qualified property shall be the straight 
line method, and 
‘‘(iii) the limitation imposed by section 
53(c) for such taxable year shall be in-
creased by the bonus depreciation amount 
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which is determined for such taxable year 
under subparagraph (B). 
‘‘(B) BONUS
DEPRECIATION
AMOUNT.— 
For purposes of this paragraph— 
‘‘(i) IN GENERAL.—The bonus depre-
ciation amount for any taxable year is an 
amount equal to 20 percent of the excess 
(if any) of— 
‘‘(I) the aggregate amount of de-
preciation which would be allowed 
under this section for qualified prop-
erty placed in service by the taxpayer 
during such taxable year if paragraph 
(1) applied to all such property, over 
‘‘(II) the aggregate amount of 
depreciation which would be allowed 
under this section for qualified prop-
erty placed in service by the taxpayer 
during such taxable year if paragraph 
(1) did not apply to any such prop-
erty. 
The aggregate amounts determined under 
subclauses (I) and (II) shall be determined 
without regard to any election made under 
subsection (b)(2)(D), (b)(3)(D), or (g)(7) 
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and 
without 
regard 
to 
subparagraph 
(A)(ii). 
‘‘(ii) LIMITATION.—The bonus depre-
ciation amount for any taxable year shall 
not exceed the lesser of— 
‘‘(I) 50 percent of the minimum 
tax credit under section 53(b) for the 
first taxable year ending after Decem-
ber 31, 2013, or 
‘‘(II) the minimum tax credit 
under section 53(b) for such taxable 
year determined by taking into ac-
count only the adjusted minimum tax 
for taxable years ending before Janu-
ary 1, 2014 (determined by treating 
credits as allowed on a first-in, first- 
out basis). 
‘‘(iii) AGGREGATION RULE.—All cor-
porations which are treated as a single em-
ployer under section 52(a) shall be treat-
ed— 
‘‘(I) as 1 taxpayer for purposes 
of this paragraph, and 
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