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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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 2014’’. 
SEC. 2. EXPENSING CERTAIN DEPRECIABLE BUSINESS AS-
SETS FOR SMALL BUSINESS. 
(a) IN GENERAL.— 
(1) DOLLAR
LIMITATION.—Paragraph (1) of 
section 179(b) 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.—Paragraph 
(2) of section 179(b) of such Code is amended by 
striking ‘‘exceeds—’’ and all that follows and insert-
ing ‘‘exceeds $2,000,000.’’. 
(b) COMPUTER SOFTWARE.—Clause (ii) of section 
179(d)(1)(A) 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 2014’’ 
and inserting ‘‘and to which section 167 applies’’. 
(c) ELECTION.—Paragraph (2) of section 179(c) of 
such Code is amended— 
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(1) by striking ‘‘may not be revoked’’ and all 
that follows through ‘‘and before 2014’’, and 
(2) by striking ‘‘IRREVOCABLE’’ in the heading 
thereof. 
(d) AIR CONDITIONING
AND HEATING UNITS.— 
Paragraph (1) of section 179(d) of such Code is amended 
by striking ‘‘and shall not include air conditioning or heat-
ing units’’. 
(e) QUALIFIED REAL PROPERTY.—Section 179(f) of 
such Code is amended— 
(1) by striking ‘‘beginning in 2010, 2011, 2012, 
or 2013’’ in paragraph (1), and 
(2) by striking paragraphs (3) and (4). 
(f) INFLATION ADJUSTMENT.—Subsection (b) of sec-
tion 179 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 
taxable year beginning after 2014, 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(c)(2)(A) for such 
calendar year, determined by substituting 
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‘calendar year 2013’ for ‘calendar year 
2012’ in clause (ii) thereof. 
‘‘(B) ROUNDING.—The amount of any in-
crease under subparagraph (A) shall be round-
ed to the nearest multiple of $10,000.’’. 
(g) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2013. 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘America’s Small Busi-
ness Tax Relief Act of 2014’’. 
SEC. 2. EXPENSING CERTAIN DEPRECIABLE BUSINESS AS-
SETS FOR SMALL BUSINESS. 
(a) IN GENERAL.— 
(1) DOLLAR LIMITATION.—Paragraph (1) of sec-
tion 179(b) 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.—Paragraph (2) 
of section 179(b) of such Code is amended by striking 
‘‘exceeds—’’ and all that follows and inserting ‘‘ex-
ceeds $2,000,000.’’. 
(b) COMPUTER SOFTWARE.—Clause (ii) of section 
179(d)(1)(A) of such Code is amended by striking ‘‘, to 
which section 167 applies, and which is placed in service 
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‘‘(i) such dollar amount, multiplied by 
‘‘(ii) the cost-of-living adjustment de-
termined under section 1(c)(2)(A) for such 
calendar year, determined by substituting 
‘calendar year 2013’ for ‘calendar year 
2012’ in clause (ii) thereof. 
‘‘(B) ROUNDING.—The amount of any in-
crease under subparagraph (A) shall be rounded 
to the nearest multiple of $10,000.’’. 
(g) EFFECTIVE DATE.—The amendments made by this 
section shall apply to taxable years beginning after Decem-
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 
permanently extend increased expensing limita-
tions, and for other purposes. 
MAY 2, 2014 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
VerDate Mar 15 2010 
20:44 May 02, 2014
Jkt 039200
PO 00000
Frm 00008
Fmt 6651
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E:\BILLS\H4457.RH
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