SENATE 314118th CongressSubmitted in the Senate, considered, and agreed to without amendment and with a preamble by Unanimous Consent. (consideration: CR S3585; text: CR S3625)

A resolution to authorize testimony and representation in United States v. Sahady.

Last Action: 7/26/2023

Actions

2023-02-09Read twice and referred to the Committee on Finance.
2023-02-09Introduced in Senate

CRS Summary

As of 2023-02-09 (00)

Cost Recovery and Expensing Acceleration to Transform the Economy and Jumpstart Opportunities for Businesses and Startups Act 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.

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