IB 
Union Calendar No. 15 
114TH CONGRESS 
1ST SESSION 
H. R. 636 
[Report No. 114–21, Part I] 
To amend the Internal Revenue Code of 1986 to permanently extend 
increased expensing limitations, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 2, 2015 
Mr. TIBERI (for himself, Mr. KIND, Mr. YOUNG of Indiana, Mr. NEAL, Mr. 
SCHOCK, Mr. DANNY K. DAVIS of Illinois, Mr. REED, and Mr. SMITH 
of Missouri) introduced the following bill; which was referred to the Com-
mittee on Ways and Means, and in addition to the Committee on the 
Budget, for a period to be subsequently determined by the Speaker, in 
each case for consideration of such provisions as fall within the jurisdic-
tion of the committee concerned 
FEBRUARY 9, 2015 
Additional sponsors: Mr. BLUM, Mr. COSTELLO
of Pennsylvania, Mr. 
DESJARLAIS, Mr. SMITH of Nebraska, Mr. KLINE, Mrs. BUSTOS, and 
Mr. EMMER 
FEBRUARY 9, 2015 
Reported from the Committee on Ways and Means with an amendment 
[Strike out all after the enacting clause and insert the part printed in italic] 
FEBRUARY 9, 2015 
The Committee on the Budget discharged; committed to the Committee of the 
Whole House on the State of the Union and ordered to be printed 
[For text of introduced bill, see copy of bill as introduced on February 2, 2015] 
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A BILL 
To amend the Internal Revenue Code of 1986 to permanently 
extend increased expensing limitations, and for other 
purposes. 
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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 ‘‘America’s Small Busi-
ness Tax Relief Act of 2015’’. 
SEC. 2. EXPENSING CERTAIN DEPRECIABLE BUSINESS AS-
SETS FOR SMALL BUSINESS. 
(a) IN GENERAL.— 
(1) DOLLAR LIMITATION.—Section 179(b)(1) of 
the Internal Revenue Code of 1986 is amended by 
striking ‘‘shall not exceed—’’ and all that follows and 
inserting ‘‘shall not exceed $500,000.’’. 
(2) 
REDUCTION
IN
LIMITATION.—Section 
179(b)(2) of such Code is amended by striking ‘‘ex-
ceeds—’’ and all that follows and inserting ‘‘exceeds 
$2,000,000.’’. 
(b) COMPUTER SOFTWARE.—Section 179(d)(1)(A)(ii) 
of such Code is amended by striking ‘‘, to which section 
167 applies, and which is placed in service in a taxable 
year beginning after 2002 and before 2015’’ and inserting 
‘‘and to which section 167 applies’’. 
(c) ELECTION.—Section 179(c)(2) of such Code is 
amended— 
(1) by striking ‘‘may not be revoked’’ and all 
that follows through ‘‘and before 2015’’, and 
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(2) by striking ‘‘IRREVOCABLE’’ in the heading 
thereof. 
(d) AIR CONDITIONING AND HEATING UNITS.—Section 
179(d)(1) of such Code is amended by striking ‘‘and shall 
not include air conditioning or heating units’’. 
(e) QUALIFIED REAL PROPERTY.—Section 179(f) of 
such Code is amended— 
(1) by striking ‘‘beginning after 2009 and before 
2015’’ in paragraph (1), and 
(2) by striking paragraphs (3) and (4). 
(f) INFLATION ADJUSTMENT.—Section 179(b) of such 
Code is amended by adding at the end the following new 
paragraph: 
‘‘(6) INFLATION ADJUSTMENT.— 
‘‘(A) IN GENERAL.—In the case of any tax-
able year beginning after 2015, the dollar 
amounts in paragraphs (1) and (2) shall each be 
increased by an amount equal to— 
‘‘(i) such dollar amount, multiplied by 
‘‘(ii) the cost-of-living adjustment de-
termined under section 1(f)(3) for the cal-
endar year in which the taxable year be-
gins, determined by substituting ‘calendar 
year 2014’ for ‘calendar year 1992’ in sub-
paragraph (B) thereof. 
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