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HR 3333 IH
111th CONGRESS
1st Session
H. R. 3333
To amend the Internal Revenue Code of 1986 to repeal the reduction in the deductible portion of expenses for business meals and entertainment.
IN THE HOUSE OF REPRESENTATIVES
July 24, 2009
Mr. ABERCROMBIE (for himself, Mr. FARR, Mr. PUTNAM, and Ms. BERKLEY) 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 repeal the reduction in the deductible portion of expenses for business meals and entertainment.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. REPEAL OF REDUCTION IN BUSINESS MEALS AND ENTERTAINMENT TAX DEDUCTION.
(a) In General- Section 274(n)(1) of the Internal Revenue Code of 1986 (relating to only 50 percent of meal and entertainment expenses allowed as deduction) is amended by striking ‘50 percent’ and inserting ‘the applicable percentage’.
(b) Applicable Percentage- Section 274(n) of the Internal Revenue Code of 1986 is amended by striking paragraph (3) and inserting the following:
‘(3) APPLICABLE PERCENTAGE- For purposes of paragraph (1), the term ‘applicable percentage’ means the percentage determined under the following table:
‘For taxable years beginning in
The applicable
calendar year--
percentage is--
2009
--75
2010 or thereafter
--80.’.
(c) Conforming Amendment- The heading for section 274(n) of the Internal Revenue Code of 1986 is amended by striking ‘Only 50 Percent’ and inserting ‘Portion’.
(d) Effective Date- The amendments made by this section shall apply to taxable years beginning after December 31, 2008.
U.S. Congress - Text of H.R.3333 as Introduced in House To amend the Internal Revenue Code of 1986 to repeal the reduction in the deductible po...
