IN THE SENATE OF THE UNITED STATES
April 15, 2021
Mr. Inhofe (for himself, Mr. Rounds, Mr. Blunt, and Ms. Lummis) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to permanently extend the depreciation rules for property used predominantly within an Indian reservation.
Permanent extension of depreciation rules for property on Indian reservations
Subsection (j) of section 168 of the Internal Revenue Code of 1986 is amended by striking paragraph (9).
The amendment made by this section shall apply to property placed in service after December 31, 2021.