Bill > HR3213

This bill, titled the Fixed Asset Relief Act of 2015, proposes to amend the Internal Revenue Code to permanently increase the "additional depreciation allowance," commonly known as bonus depreciation, from 50% to 100% for qualifying business property. Bonus depreciation allows businesses to deduct a larger portion of the cost of certain new or used assets in the year they are placed in service, rather than spreading the deduction over several years. This change would apply to property placed in service after December 31, 2014, and would make this enhanced deduction a permanent feature of tax law, providing businesses with immediate tax relief for investments in qualifying assets like equipment, machinery, and certain improvements.