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HR 1552 IH
111th CONGRESS
1st Session
H. R. 1552
To amend the Internal Revenue Code of 1986 to increase the amount allowed as a deduction for start-up expenditures.
IN THE HOUSE OF REPRESENTATIVES
March 17, 2009
Mr. KRATOVIL (for himself and Mr. LEE of New York) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to increase the amount allowed as a deduction for start-up expenditures.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. INCREASE IN AMOUNT ALLOWED AS DEDUCTION FOR START-UP EXPENDITURES.
(a) In General- Subsection (b) of section 195 of the Internal Revenue Code of 1986 is amended by adding at the end the following:
‘(3) SPECIAL RULE FOR TAXABLE YEARS BEGINNING IN 2009, 2010, OR 2011- In the case of a taxable year beginning in 2009, 2010, or 2011, paragraph (1)(A)(ii) shall be applied--
‘(A) by substituting ‘$20,000’ for ‘$5,000’, and
‘(B) by substituting ‘$75,000’ for ‘$50,000’.’.
(b) Effective Date- The amendments made by this section shall apply to amounts paid or incurred in taxable years beginning after the date of the enactment of this Act.
