S. 233 — A bill to amend the Internal Revenue Code of 1986 to make the allowance of bonus depreciation and the increased expensing limitations permanent.

Summary

Amends the Internal Revenue Code to make permanent: (1) the special depreciation allowance for certain property acquired after December 31, 2007 (bonus depreciation); and (2) the increased $250,000 expensing allowance for depreciable business assets.

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Legislative Actions

2009-01-14
Introduced in Senate
2009-01-14
Read twice and referred to the Committee on Finance.

A bill to amend the Internal Revenue Code of 1986 to make the allowance of bonus depreciation and the increased expensing limitations permanent.

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Summary

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