Bill Sponsor
House Bill 3455
115th Congress(2017-2018)
Fairness for Agricultural Machinery and Equipment Act
Introduced
Introduced
Introduced in House on Jul 27, 2017
Overview
Text
Introduced
Jul 27, 2017
Latest Action
Jul 27, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3455
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
Republican
Louisiana
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Fairness for Agricultural Machinery and Equipment Act

This bill amends the Internal Revenue Code to: (1) make permanent the five-year recovery period for the depreciation of certain farming business machinery and equipment by eliminating the requirement that the property be placed in service before 2010; and (2) expand the machinery and equipment that qualifies as five-year property to include a grain bin, cotton ginning asset, or fence used in a farming business. The original use of the five-year property must commence with the taxpayer after the enactment of this bill.

Text (1)
July 27, 2017
Actions (2)
07/27/2017
Referred to the House Committee on Ways and Means.
07/27/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:37:18 PM