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H.R. 4718: To amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation.

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H.R. 4718: To amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation.

113th Congress · introduced 2014-05-22 · Taxation · Latest: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 465.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2014-05-22 · official record
  2. Who proposed it: Rep. Tiberi, Patrick J. [R-OH-12] · what a sponsor is
  3. What happened next: 2 recorded votes in our records. Latest: House roll call 403 (2014): On Motion to Recommit with Instructions, HR4718 (2014-07-11), Failed. See all
  4. Where it stands now: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 465. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

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

Plain summary

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.

Congressional Research Service summary (Passed House amended), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

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

Source: Congressional Research Service summary (Passed House amended)

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The strongest published arguments

Arguments for (supporters)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Tiberi, Patrick J. [R-OH-12] · 26 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Todd Young (R-IN), Mike Kelly (R-PA), Vern Buchanan (R-FL), Bill Huizenga (R-MI), Pete Sessions (R-TX), Gary C. Peters (D-MI)

Recorded votes

Sources

Record fed-us-cong113-hr4718 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113