legislation: 96-hr-6617

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
96-hr-6617 96 hr 6617 Small Business Capital Incentive Act of 1980 Commerce 1980-02-26 1980-02-26 Referred to House Committee on Ways and Means. House Rep. Nowak, Henry [D-NY-37] NY D N000163 49 Small Business Capital Incentive Act of 1980 - Amends the Internal Revenue Code to permit a taxpayer to elect shorter useful lives for buildings and business machinery in computing the allowance for depreciation. Specifies that the taxpayer may elect a useful life of 15 years in the case of a building and its structural components, and four years in the case of business machinery eligible for the investment tax credit. Imposes a $3,000,000 basic limit for buildings and a $1,000,000 limit for machinery eligible for the election provided by this Act. Reduces from seven to three years the useful life of investment tax credit property which is eligible for the full amount of such credit. 2025-09-02T13:54:28Z  

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