CREATE JOBS Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Jul 30, 2020)
Cost Recovery and Expensing Acceleration to Transform the Economy and Jumpstart Opportunities for Businesses and Startups Act of 2020 or the CREATE JOBS Act
This bill allows permanent expensing of qualified property (i.e., property with a recovery period of 20 years or less and that is computer software, water utility property, or film, television, or live theatrical production property). It also modifies depreciation provisions for residential rental property and nonresidential real property.
The bill repeals provisions for the amortization of research and experimental expenditures, thus providing for direct expensing of such expenditures.
What just happenedJul 30, 2020
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateJul 30, 2020
- Jul 30, 2020IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Jul 30, 2020IntroReferral10000
Introduced in Senate