H.R.5974 - Invest in America Now Act of 2012

To amend the Internal Revenue Code of 1986 to extend bonus depreciation, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to extend bonus depreciation, and for other purposes. as introduced.
  • Short: Invest in America Now Act of 2012 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
06/20/12
 
 
 
 
 
 
 

Sponsor

Representative

Sander Levin

D-MI

View Co-Sponsors (17)

Official Summary

Invest in America Now Act of 2012 - Amends the Internal Revenue Code to: (1) extend through 2012 the 100% bonus depreciation allowance for business assets; (2) increase the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in

Official Summary

Invest in America Now Act of 2012 - Amends the Internal Revenue Code to:
(1) extend through 2012 the 100% bonus depreciation allowance for business assets;
(2) increase the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation; and
(3) deny major integrated oil companies a tax deduction for income attributable to the domestic production, transportation, or distribution of oil, natural gas, and primary products thereof.

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