Rollover any line of text to comment and/or link to it.
S 2216 PCS
Calendar No. 439
110th CONGRESS
1st Session
S. 2216
To amend the Internal Revenue Code of 1986 to extend the Indian employment credit and the depreciation rules for property used predominantly within an Indian reservation.
IN THE SENATE OF THE UNITED STATES
October 23, 2007
Mr. INHOFE introduced the following bill; which was read the first time
October 24, 2007
Read the second time and placed on the calendar
A BILL
To amend the Internal Revenue Code of 1986 to extend the Indian employment credit and the depreciation rules for property used predominantly within an Indian reservation.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. EXTENSION OF INDIAN EMPLOYMENT CREDIT AND DEPRECIATION RULES FOR PROPERTY ON INDIAN RESERVATIONS.
(a) Employment Credit-
(1) IN GENERAL- Section 45A(f) of the Internal Revenue Code of 1986 (relating to termination) is amended by striking `2007' and inserting `2008'.
(2) EFFECTIVE DATE- The amendment made by this subsection shall apply to taxable years beginning after December 31, 2007.
(b) Depreciation Rules-
(1) IN GENERAL- Section 168(j)(8) of the Internal Revenue Code of 1986 (relating to termination) is amended by striking `2007' and inserting `2008'.
(2) EFFECTIVE DATE- The amendment made by this subsection shall apply to property placed in service after December 31, 2007.
Calendar No. 439
110th CONGRESS
1st Session
S. 2216
A BILL
To amend the Internal Revenue Code of 1986 to extend the Indian employment credit and the depreciation rules for property used predominantly within an Indian reservation.
October 24, 2007
Read the second time and placed on the calendar
U.S. Congress - Text of S.2216 as Placed on Calendar Senate A bill to amend the Internal Revenue Code of 1986 to extend the Indian employment credi...
