America's Small Business Tax Relief Act of 2014

Bill: 113-hr-4457
Sponsor: Rep. Tiberi, Patrick J. [R-OH-12]
Introduced: 2014-04-10 in the House
Policy area: Taxation
Subjects: Business investment and capital
Computers and information technology
Food industry and services
Income tax deductions
Inflation and prices
Lighting, heating, cooling
Retail and wholesale trades

Summary:
action_date: 2014-04-10
text: 
America's Small Business Tax Relief Act of 2014 - Amends the Internal Revenue Code, with respect to the expensing allowance for depreciable business property, to make permanent: (1) the increased $500,000 expensing allowance for such property, (2) the increased $2,000,000 threshold amount for such property over which the amount of the expensing allowance is reduced, (3) expensing of computer software, and (4) rules for the expensing of qualified real property (i.e., leasehold improvement, restaurant, and retail improvement property). Allow an inflation adjustment to the dollar amounts of the expensing allowance for taxable years beginning after 2014. Eliminates the exclusion of air conditioning and heating units from property eligible for the expensing allowance. 

action_date: 2014-05-02
text: 
America's Small Business Tax Relief Act of 2014 - Amends the Internal Revenue Code, with respect to the expensing allowance for depreciable business property, to make permanent: (1) the increased $500,000 expensing allowance for such property, (2) the increased $2,000,000 threshold amount for such property over which the amount of the expensing allowance is reduced, (3) expensing of computer software, and (4) rules for the expensing of qualified real property (i.e., leasehold improvement, restaurant, and retail improvement property). Allow an inflation adjustment to the dollar amounts of the expensing allowance for taxable years beginning after 2014. Eliminates the exclusion of air conditioning and heating units as property eligible for the expensing allowance. 

action_date: 2014-06-12
text: 
America's Small Business Tax Relief Act of 2014 - Amends the Internal Revenue Code, with respect to the expensing allowance for depreciable business property, to make permanent: (1) the increased $500,000 expensing allowance for such property, (2) the increased $2,000,000 threshold amount for such property over which the amount of the expensing allowance is reduced, (3) expensing of computer software, and (4) rules for the expensing of qualified real property (i.e., leasehold improvement, restaurant, and retail improvement property). Allow an inflation adjustment to the dollar amounts of the expensing allowance for taxable years beginning after 2014. Eliminates the exclusion of air conditioning and heating units as property eligible for the expensing allowance. 
 
Prohibits the entry of the budgetary effects of this Act on any PAYGO (Pay-As-You-Go) scorecard.


Legislative actions:
action_date: 2014-06-17
text: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 434.
action_date: 2014-06-16
text: Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
action_date: 2014-06-12
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2014-06-12
text: On passage Passed by the Yeas and Nays: 272 - 144 (Roll no. 309). (text: CR H5330)
action_date: 2014-06-12
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 272 - 144 (Roll no. 309).(text: CR H5330)
action_date: 2014-06-12
text: On motion to recommit with instructions Failed by the Yeas and Nays: 180 - 232 (Roll no. 308).
action_date: 2014-06-12
text: The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H5339)
action_date: 2014-06-12
text: DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions, pending the reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to extend small business expensing for two years. The point of order was subsequently withdrawn.
action_date: 2014-06-12
text: Mr. Neal moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H5338-5340; text: CR H5338)
action_date: 2014-06-12
text: The previous question was ordered pursuant to the rule. (consideration: CR H5338)
action_date: 2014-06-12
text: DEBATE - The House continued with debate on H.R. 4457.
action_date: 2014-06-12
text: DEBATE - The House proceeded with one hour of debate on H.R. 4457.
action_date: 2014-06-12
text: Considered under the provisions of rule H. Res. 616. (consideration: CR H5330-5340)
action_date: 2014-06-10
text: Rules Committee Resolution H. Res. 616 Reported to House. Rule provides for one hour of general debate on the bills. H.R. 4800 shall be considred for amendment under a modified open rule. H.R. 4457 and H.R. 4453 shall be considred for amendment under a closed rule.
action_date: 2014-05-02
text: Placed on the Union Calendar, Calendar No. 320.
action_date: 2014-05-02
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-432.
action_date: 2014-05-02
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-432.
action_date: 2014-04-29
text: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 21 - 14.
action_date: 2014-04-29
text: Committee Consideration and Mark-up Session Held.
action_date: 2014-04-10
text: Referred to the House Committee on Ways and Means.
action_date: 2014-04-10
text: Introduced in House
action_date: 2014-04-10
text: Introduced in House