H.R. 5649
Referred to CommitteeBring Entrepreneurial Advancements To Consumers Here In North America Act
Latest Action
Referred to the House Committee on Ways and Means.
10/20/2021 • House
Summary
Bring Entrepreneurial Advancements To Consumers Here In North America Act
This bill provides tax incentives for relocating manufacturing facilities in the United States.
Specifically, it allows accelerated depreciation (20-year recovery period) for nonresidential real property acquired in connection with the relocation of manufacturing facilities in the United States. It also excludes from gross income, for income tax purposes, gain on the sale or exchange of such relocated facilities.
Finally, the bill allows permanent 100% expensing of manufacturing property relocated in the United States.
Introduced in House • 10/20/2021
Topics & Subjects
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Sponsor & Cosponsors (16)
Party Breakdown
Sponsor
Cosponsors (15)
Bill Journey
Originated in the House
Introduced
October 20, 2021
Referred to the House Committee on Ways and Means.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law