Bill > HR4743

This bill, the Bonus Depreciation Extension Act of 2014, extends bonus depreciation, a tax incentive that allows businesses to immediately deduct a portion of the cost of eligible new or used property, rather than depreciating it over time. Specifically, it pushes back the expiration date for bonus depreciation from January 1, 2015, to January 1, 2017, and makes conforming changes to related tax provisions. The bill also modifies an election that allows corporations to accelerate Alternative Minimum Tax (AMT) credits instead of taking bonus depreciation, adjusting the calculation of the bonus depreciation amount and its limitations for this election. This extension aims to encourage business investment by providing a more immediate tax benefit for acquiring new assets.