H.R.5141 - Job Creation Economic Stimulus Act of 2008

To amend the Internal Revenue Code of 1986 to encourage investment in high productivity property, and for other purposes. view all titles (2)

All Bill Titles

  • Short: Job Creation Economic Stimulus Act of 2008 as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to encourage investment in high productivity property, and for other purposes. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
01/28/08
 
 
 
 
 
 
 

Official Summary

Job Creation Economic Stimulus Act of 2008 - Amends the Internal Revenue Code to allow the expensing of the cost of certain high productivity property placed in service in 2008, including computer and computer-related peripheral equipment, electronic equipment, software, high technology med

Official Summary

Job Creation Economic Stimulus Act of 2008 - Amends the Internal Revenue Code to allow the expensing of the cost of certain high productivity property placed in service in 2008, including computer and computer-related peripheral equipment, electronic equipment, software, high technology medical equipment, and advanced environmental and life science products.Allow a 50% depreciation allowance for certain business equipment acquired in 2008. Exempts acclerated depreciation amounts related to properties placed in service in 2008 or 2009 from adjustments in computing alternative minimum taxable income. Allows an offset in 2008 against the alternative minimum tax liability of corporations for their long-term unused tax credits.

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