S. 749 — A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property.

Summary

Amends the Internal Revenue Code to make permanent the 15-year recovery period classification for qualified leasehold improvement, restaurant, and retail improvement property, for purposes of the depreciation tax deduction.

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Related Legislation

H.R. 3939Invest in United States Act of 2014
2014-06-13Referred to the Subcommittee on Workforce Protections.
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H.R. 3948To amend the Internal Revenue Code of 1986 to extend for one year the 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements.
2014-01-28Referred to the House Committee on Ways and Means.
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H.R. 4212To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property.
2014-03-12Referred to the House Committee on Ways and Means.
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Legislative Actions

2013-04-17
Introduced in Senate
2013-04-17
Read twice and referred to the Committee on Finance.

A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property.

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