Senate Bill 4376
116th Congress(2019-2020)
CREATE JOBS Act
Introduced
Introduced in Senate on Jul 30, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4376
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
Cost Recovery and Expensing Acceleration to Transform the Economy and Jumpstart Opportunities for Businesses and Startups Act of 2020 or the CREATE JOBS Act
This bill allows permanent expensing of qualified property (i.e., property with a recovery period of 20 years or less and that is computer software, water utility property, or film, television, or live theatrical production property). It also modifies depreciation provisions for residential rental property and nonresidential real property.
The bill repeals provisions for the amortization of research and experimental expenditures, thus providing for direct expensing of such expenditures.
July 30, 2020
Sort by most recent
07/30/2020
Read twice and referred to the Committee on Finance.
07/30/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:45:33 PM