A bill to amend the Internal Revenue Code of 1986 to treat certain farming business machinery and equipment as 5-year property for purposes of depreciation.
Agriculture Equipment and Machinery Depreciation Act
This bill amends the Internal Revenue Code to eliminate the placed-in-service restriction on the depreciation of certain farming business machinery and equipment and to make permanent the five-year recovery period for such property.
Read twice and referred to the Committee on Finance.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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