H.R. 3123 (112th): American Job Creation and Investment Act of 2011

Introduced:
Oct 06, 2011 (112th Congress, 2011–2013)
Sponsor:
Rep. Patrick “Pat” Tiberi [R-OH12]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on October 6, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Oct 06, 2011
Referred to Committee Oct 06, 2011
Cosponsors
13 cosponsors (7R, 6D) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to allow for annual elections to accelerate AMT credits in lieu of bonus depreciation.

Summary

No summaries available.

Text

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Last updated Oct 06, 2011.
5 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

10/6/2011--Introduced.
American Job Creation and Investment Act of 2011 - Amends the Internal Revenue Code, with respect to the election to accelerate the alternative minimum tax (AMT) credit in lieu of bonus depreciation, to:
(1) repeal the $30 million cap on the AMT tax credit and increase the rate of such credit from 6% to 50%,
(2) allow investments made by partnerships that are more than 50% owned by a corporation to qualify for such increased AMT credit amount, and
(3) allow taxpayers to make separate elections for each taxable year to take bonus depreciation or AMT credits in lieu of bonus depreciation.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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