A bill to amend the Internal Revenue Code of 1986 to provide 15-year straight-line cost recovery for certain improvements to retail space and for qualified new restaurant improvements and to expand the eligibility for the work opportunity tax credit to all disabled veterans.
Business Relief and Incentives for Small Entrepreneurs Act of 2007 or the Business RAISE Act - Amends the Internal Revenue Code to: (1) allow accelerated depreciation (i.e., 15-year recovery period) of qualified retail improvement property (defined as any improvement to the interior portion of any nonresidential building used in the trade or business of selling retail goods or services to the general public) placed in service before January 1, 2008; (2) allow new improvements to restaurant property to qualify for accelerated depreciation; and (3) expand the eligibility of certain disabled veterans for employment under the work opportunity tax credit.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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