S. 2240 — A bill to amend the Internal Revenue Code of 1986 to extend the allowance for bonus depreciation for certain business assets.

Summary

Amends the Internal Revenue Code to: (1) extend for one year the 100% bonus depreciation allowance for business assets, and (2) increase the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation.

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Legislative Actions

2012-03-27
Introduced in Senate
2012-03-27
Read twice and referred to the Committee on Finance.

A bill to amend the Internal Revenue Code of 1986 to extend the allowance for bonus depreciation for certain business assets.

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Summary

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