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House Bill 3455
115th Congress(2017-2018)
Fairness for Agricultural Machinery and Equipment Act
Introduced
Introduced
Introduced in House on Jul 27, 2017
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Introduced in House 
Jul 27, 2017
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Introduced in House(Jul 27, 2017)
Jul 27, 2017
Not Scanned for Linkage
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 3455 (Introduced-in-House)


115th CONGRESS
1st Session
H. R. 3455


To amend the Internal Revenue Code of 1986 to treat certain farming business machinery and equipment as 5-year property for purposes of depreciation.

IN THE HOUSE OF REPRESENTATIVES

July 27, 2017

Mr. Abraham (for himself, Mr. Peterson, and Mr. Crawford) introduced the following bill; which was referred to the Committee on Ways and Means

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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Fairness for Agricultural Machinery and Equipment Act”.

SEC. 2. Certain farming business machinery and equipment treated as 5-year property.

(a) In general.—Clause (vii) of section 168(e)(3)(B) of the Internal Revenue Code of 1986 is amended to read as follows:

“(vii) any machinery or equipment (including any grain bin, cotton ginning asset, or fence, and excluding any other land improvement) which is used in a farming business (as defined in section 263A(e)(4)) the original use of which commences with the taxpayer after the date of the enactment of the Fairness for Agricultural Machinery and Equipment Act.”.

(b) Effective date.—The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.