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.
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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