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Bill113th CongressFiled May 22, 2014Taxation
H.R. 4718

To amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation.

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary passed house amended (Jul 11, 2014)

Amends the Internal Revenue Code to make permanent the additional 50% depreciation allowance (bonus depreciation) for qualified property placed in service after December 31, 2013. Modifies the definition of "qualified property" to include qualified retail improvement property. Increases by $8,000 (with an annual inflation adjustment after 2014) the maximum allowable depreciation deduction for a passenger automobile (i.e., any 4-wheeled vehicle which is manufactured primarily for use on public streets, roads, and highways and is rated at 6,000 pounds unloaded gross vehicle weight or less).

Makes permanent, for taxable years ending after December 31, 2013, the election to increase the alternative minimum tax (AMT) credit limitation in lieu of bonus depreciation.

Allows an additional deprecation allowance for a tree or vine bearing fruits or nuts, in the taxable year in which the tree or vine is planted, or grafted to a plant, in the ordinary course of the taxpayer's farming business. Makes such provision applicable to trees and vines planted or grafted after December 31, 2013.

Prohibits the entry of the budgetary effects of this Act on any PAYGO (pay-as-you-go) scorecard.

What just happenedJul 15, 2014

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 465.

Who’s behind it

Rep. Tiberi, Patrick J. [R-OH-12](R-OH)Sponsor
26 cosponsors1 D25 R
Read on Congress.gov
26cosponsors1committees24actions1amendments4related bills12subjects
  1. Jul 15, 2014Calendars

    Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 465.

  2. Jul 14, 2014Calendars

    Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

  3. Jul 11, 2014FloorH37100

    On passage Passed by recorded vote: 258 - 160 (Roll no. 404). (text: CR H6110-6112)

  4. Jul 11, 2014FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  5. Jul 11, 2014Floor8000

    Passed/agreed to in House: On passage Passed by recorded vote: 258 - 160 (Roll no. 404).(text: CR H6110-6112)

  6. Jul 11, 2014FloorH36110

    On motion to recommit with instructions Failed by the Yeas and Nays: 191 - 229 (Roll no. 403). (consideration: CR H6120-6121)

    Ways and Means Committee
  7. Jul 11, 2014FloorH8A000

    The previous question on the motion to recommit with instructions was ordered without objection. (consideration: CR H6120)

  8. Jul 11, 2014FloorH8D000

    DEBATE - The House proceeded with 10 minutes of debate on the motion to recommit with instructions, pending the reservation of a point of order. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to extend Bonus Depreciation for 2 additional years instead of a permanent extention. The reservation of a point of order was subsequently withdrawn.

  9. Jul 11, 2014FloorH36100

    Mr. Neal moved to recommit with instructions to the Committee on Ways and Means. (consideration: CR H6119-6121; text: CR H6119)

    Ways and Means Committee
  10. Jul 11, 2014FloorH35000

    The previous question was ordered pursuant to the rule. (consideration: CR H6119)

  11. Jul 11, 2014FloorH8D000

    POINT OF ORDER - Mr. Van Hollen raised a point of order against consideration of H.R. 4718 by stating that the bill violated the provisions of the Congressional Budget Act. Subsequently, the Chair ruled that the provisions of H. Res. 661 which provide for the consideration of H.R. 4718, waive all points of order against consideration of the bill.

  12. Jul 11, 2014FloorH8D000

    DEBATE - The House proceeded with one hour of debate on H.R. 4718.

  13. Jul 11, 2014FloorH8D000

    The resolution provides for the consideration of H.R. 5016 and H.R. 4718. The resolution provides for one hour of debate for each bill. Amendments may be offered to H.R. 5016, however no amendments are in order for H.R. 4718 except for the amendment in the nature of a substitute recommended by the Committee on Ways and Means and modified by the amendment printed in House Report 113-517. One motion to recommit is allowed for each bill.

  14. Jul 11, 2014FloorH30000

    Considered under the provisions of rule H. Res. 661. (consideration: CR H6110-6121)

  15. Jul 10, 2014FloorH1L220

    Rule H. Res. 661 passed House.

  16. Jul 9, 2014FloorH1L210

    Rules Committee Resolution H. Res. 661 Reported to House. The resolution provides for the consideration of H.R. 5016 and H.R. 4718. The resolution provides for one hour of debate for each bill. Amendments may be offered to H.R. 5016, however no amendments are in order for H.R. 4718 except for the amendment in the nature of a substitute recommended by the Committee on Ways and Means and modified by the amendment printed in House Report 113-517. One motion to recommit is allowed for each bill.

  17. Jul 3, 2014CalendarsH12410

    Placed on the Union Calendar, Calendar No. 381.

  18. Jul 3, 2014CommitteeH12200

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-509.

    Ways and Means Committee
  19. Jul 3, 2014Committee5000

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 113-509.

    Ways and Means Committee
  20. May 29, 2014Committee

    Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 23 - 11.

    Ways and Means Committee
  21. May 29, 2014Committee

    Committee Consideration and Mark-up Session Held.

    Ways and Means Committee
  22. May 22, 2014IntroReferralH11100

    Referred to the House Committee on Ways and Means.

    Ways and Means Committee
  23. May 22, 2014IntroReferralIntro-H

    Introduced in House

  24. May 22, 2014IntroReferral1000

    Introduced in House

Passed House amendedJul 11, 201436

Amends the Internal Revenue Code to make permanent the additional 50% depreciation allowance (bonus depreciation) for qualified property placed in service after December 31, 2013. Modifies the definition of "qualified property" to include qualified retail improvement property. Increases by $8,000 (with an annual inflation adjustment after 2014) the maximum allowable depreciation deduction for a passenger automobile (i.e., any 4-wheeled vehicle which is manufactured primarily for use on public streets, roads, and highways and is rated at 6,000 pounds unloaded gross vehicle weight or less).

Makes permanent, for taxable years ending after December 31, 2013, the election to increase the alternative minimum tax (AMT) credit limitation in lieu of bonus depreciation.

Allows an additional deprecation allowance for a tree or vine bearing fruits or nuts, in the taxable year in which the tree or vine is planted, or grafted to a plant, in the ordinary course of the taxpayer's farming business. Makes such provision applicable to trees and vines planted or grafted after December 31, 2013.

Prohibits the entry of the budgetary effects of this Act on any PAYGO (pay-as-you-go) scorecard.

Reported to House with amendment(s)Jul 3, 201417

Amends the Internal Revenue Code to make permanent the additional 50% depreciation allowance (bonus depreciation) for qualified property placed in service after December 31, 2013. Modifies the definition of "qualified property" to include qualified retail improvement property. Increases by $8,000 (with an annual inflation adjustment after 2014) the maximum allowable depreciation deduction for a passenger automobile (i.e., any 4-wheeled vehicle which is manufactured primarily for use on public streets, roads, and highways and is rated at 6,000 pounds unloaded gross vehicle weight or less).

Makes permanent, for taxable years ending after December 31, 2013, the election to increase the alternative minimum tax (AMT) credit limitation in lieu of bonus depreciation.

Allows an additional deprecation allowance for a tree or vine bearing fruits or nuts, in the taxable year in which the tree or vine is planted, or grafted to a plant, in the ordinary course of the taxpayer's farming business. Makes such provision applicable to trees and vines planted or grafted after December 31, 2013.

Introduced in HouseMay 22, 2014

Amends the Internal Revenue Code to: (1) make permanent the additional 50% depreciation allowance (bonus depreciation) for qualified property (i.e., property which has a recovery period of 20 years or less and is computer software, water utility property, or qualified leasehold or retail improvement property); (2) make permanent the election to increase the alternative minimum tax (AMT) credit limitation in lieu of bonus depreciation; and (3) allow an additional depreciation allowance for a tree or vine bearing fruits or nuts, in the taxable year in which the tree or vine is planted, or grafted to a plant, in the ordinary course of the taxpayer's farming business.

To amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation… — Informed