Jobs Investment Act of 2014

Bill: 113-hr-4819
Sponsor: full_name: Rep. Murphy, Patrick [D-FL-18]
Introduced: 2014-06-09
Policy area: Taxation
Subjects: Business investment and capital

Congressional oversight

Income tax deductions

Tax administration and collection, taxpayers
Latest action: action_date: 2014-06-09
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2014-06-09
action_desc: Introduced in House
text: <p>Jobs Investment Act of 2014 - Directs the Secretary of the Treasury to develop and report on recommendations for assigning to depreciable property a class life, classification, or recovery period that more equitably provides for capital cost recovery across all industries without any significant effect on total tax revenue. </p>

tv_txt: I 113th CONGRESS 2d Session H. R. 4819 IN THE HOUSE OF REPRESENTATIVES June 9, 2014 Mr. Murphy of Florida (for himself and Mr. Chabot ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To direct the Secretary of the Treasury to develop and submit class life recommendations for depreciable assets.

1. Short title This Act may be cited as the Jobs Investment Act of 2014 . 2. Class life recommendations (a) In general The Secretary of the Treasury shall, based on the monitoring and analysis of actual experience with respect to depreciable property under section 168(i)(1) of the Internal Revenue Code of 1986, develop recommendations for prescribing to any depreciable property a class life, classification, or recovery period that more equitably provides for capital cost recovery across all industries without any significant effect on total tax revenue. (b) Proposal Not later than January 31, 2019, and every 5 years thereafter, the Secretary shall submit to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate the recommendations developed under subsection (a).