H.R. 1039 (112th): To amend the Internal Revenue Code of 1986 to permanently extend the Indian employment credit and the ...

...depreciation rules for property used predominantly within an Indian reservation.

112th Congress, 2011–2013. Text as of Mar 11, 2011 (Introduced).

Status & Summary | PDF | Source: GPO

HR 1039 IH

112th CONGRESS

1st Session

H. R. 1039

To amend the Internal Revenue Code of 1986 to permanently extend the Indian employment credit and the depreciation rules for property used predominantly within an Indian reservation.

IN THE HOUSE OF REPRESENTATIVES

March 11, 2011

Mr. SULLIVAN (for himself, Mr. BOREN, Mr. COLE, Mr. LUCAS, and Mr. LANKFORD) 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 permanently extend the Indian employment credit and the depreciation rules for property used predominantly within an Indian reservation.

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

SECTION 1. PERMANENT EXTENSION OF INDIAN EMPLOYMENT CREDIT.

    (a) In General- Section 45A of the Internal Revenue Code of 1986 is amended by striking subsection (f).

    (b) Effective Date- The amendment made by this section shall apply to taxable years beginning after December 31, 2011.

SEC. 2. PERMANENT EXTENSION OF DEPRECIATION RULES FOR PROPERTY ON INDIAN RESERVATIONS.

    (a) In General- Subsection (j) of section 168 of the Internal Revenue Code of 1986 is amended by striking paragraph (8).

    (b) Effective Date- The amendment made by this section shall apply to property placed in service after December 31, 2011.