II 
Calendar No. 434 
113TH CONGRESS 
2D SESSION 
H. R. 4457 
IN THE SENATE OF THE UNITED STATES 
JUNE 16, 2014 
Received; read the first time 
JUNE 17, 2014 
Read the second time and placed on the calendar 
AN ACT 
To amend the Internal Revenue Code of 1986 to permanently 
extend increased expensing limitations, and for other 
purposes. 
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.— 
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HR 4457 PCS 
(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— 
(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’’. 
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HR 4457 PCS 
(e) QUALIFIED REAL PROPERTY.—Subsection (f) of 
section 179 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 
‘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. 
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HR 4457 PCS 
SEC. 3. BUDGETARY EFFECTS. 
(a) STATUTORY PAY-AS-YOU-GO SCORECARDS.—The 
budgetary effects of this Act shall not be entered on either 
PAYGO scorecard maintained pursuant to section 4(d) of 
the Statutory Pay-As-You-Go Act of 2010. 
(b) SENATE PAYGO SCORECARDS.—The budgetary 
effects of this Act shall not be entered on any PAYGO 
scorecard maintained for purposes of section 201 of S. 
Con. Res. 21 (110th Congress). 
Passed the House of Representatives June 12, 2014. 
Attest: 
KAREN L. HAAS, 
Clerk. 
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