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HR 4189 IH
111th CONGRESS
1st Session
H. R. 4189
To amend the Internal Revenue Code of 1986 to accelerate the phasein of the deduction for domestic production activities.
IN THE HOUSE OF REPRESENTATIVES
December 3, 2009
Mr. MANZULLO 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 accelerate the phasein of the deduction for domestic production activities.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. ACCELERATING THE PHASEIN OF DOMESTIC PRODUCTION ACTIVITIES DEDUCTION.
(a) In General- Subsection (a) of section 199 of the Internal Revenue Code of 1986 (relating to allowance of deduction) is amended to read as follows:
‘(a) Allowance of Deduction- There shall be allowed as a deduction an amount equal to 9 percent of the lesser of--
‘(1) the qualified production activities income of the taxpayer for the taxable year, or
‘(2) taxable income (determined without regard to this section) for the taxable year.’.
(b) Conforming Amendment- Paragraph (2) of section 199(d) of such Code is amended by striking ‘subsection (a)(1)(B)’ and inserting ‘subsection (a)(2)’.
(c) Effective Date- The amendment made by this section shall apply to taxable years beginning after December 31, 2008.
U.S. Congress - Text of H.R.4189 as Introduced in House To amend the Internal Revenue Code of 1986 to accelerate the phasein of the deduction f...
