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Senate Bill 803
116th Congress(2019-2020)
Restoring Investment in Improvements Act
Introduced
Introduced
Introduced in Senate on Mar 14, 2019
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Text
Introduced in Senate 
Mar 14, 2019
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Introduced in Senate(Mar 14, 2019)
Mar 14, 2019
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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S. 803 (Introduced-in-Senate)


116th CONGRESS
1st Session
S. 803


To amend the Internal Revenue Code of 1986 to restore incentives for investments in qualified improvement property.

IN THE SENATE OF THE UNITED STATES

March 14, 2019

Mr. Toomey (for himself, Mr. Jones, Mr. King, Mr. Manchin, Mr. Portman, Mr. Roberts, Mrs. Shaheen, Mr. Thune, Ms. Sinema, and Ms. McSally) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to restore incentives for investments in qualified improvement property.

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

SECTION 1. Short title.

This Act may be cited as the “Restoring Investment in Improvements Act”.

SEC. 2. Technical amendments regarding qualified improvement property.

(a) In general.—Section 168 of the Internal Revenue Code of 1986 is amended—

(1) in subsection (e)—

(A) in paragraph (3)(E), by striking “and” at the end of clause (v), by striking the period at the end of clause (vi) and inserting “, and”, and by adding at the end the following new clause:

“(vii) any qualified improvement property.”, and

(B) in paragraph (6)(A), by inserting “made by the taxpayer” after “any improvement”, and

(2) in the table contained in subsection (g)(3)(B)—

(A) by striking the item relating to subparagraph (D)(v), and

(B) by inserting after the item relating to subparagraph (E)(vi) the following new item:


“(E)(vii)20”.

(b) Effective date.—The amendments made by this section shall take effect as if included in section 13204 of Public Law 115–97.