A bill to amend the Internal Revenue Code of 1986 to permanently extend the depreciation rules for property used predominantly within an Indian reservation.

Bill: 115-s-2675
Sponsor: full_name: Sen. Inhofe, James M. [R-OK]
Introduced: 2018-04-16
Policy area: Taxation
Subjects: Business investment and capital

Income tax deductions

Indian social and development programs

Minority and disadvantaged businesses
Latest action: action_date: 2018-04-16
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2018-04-16
action_desc: Introduced in Senate
text: <p>This bill amends the Internal Revenue Code to make permanent the special depreciation rules for property used predominantly within an Indian reservation. </p>

tv_txt: II 115th CONGRESS 2d Session S. 2675 IN THE SENATE OF THE UNITED STATES April 16, 2018 Mr. Inhofe introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to permanently extend the depreciation rules for property used predominantly within an Indian reservation.

1. Permanent extension of depreciation rules for property on Indian reservations (a) In general Subsection (j) of section 168 of the Internal Revenue Code of 1986 is amended by striking paragraph (9). (b) Effective date The amendment made by this section shall apply to property placed in service after December 31, 2017.