II
119THCONGRESS
1
STSESSION S. 187
To amend the Internal Revenue Code of 1986 to permanently allow a tax
deduction at the time an investment in qualified property is made.
IN THE SENATE OF THE UNITED STATES
JANUARY22, 2025
Mr. L
ANKFORD(for himself, Mr. DAINES, Mr. BARRASSO, Mrs. BLACKBURN,
Mr. Y
OUNG, Mr. GRASSLEY, Mr. MARSHALL, Mrs. CAPITO, Mr. RISCH,
and Mr. B
OOZMAN) introduced the following bill; which was read twice
and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to permanently
allow a tax deduction at the time an investment in quali-
fied property is made.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Accelerate Long-term 4
Investment Growth Now Act’’ or the ‘‘ALIGN Act’’. 5
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•S 187 IS
SEC. 2. PERMANENT FULL EXPENSING FOR QUALIFIED 1
PROPERTY. 2
(a) I
NGENERAL.—Paragraph (6) of section 168(k) 3
of the Internal Revenue Code of 1986 is amended to read 4
as follows: 5
‘‘(6) A
PPLICABLE PERCENTAGE .—For purposes 6
of this subsection, the term ‘applicable percentage’ 7
means, in the case of property placed in service (or, 8
in the case of a specified plant described in para-9
graph (5), a plant which is planted or grafted) after 10
September 27, 2017, 100 percent.’’. 11
(b) C
ONFORMINGAMENDMENTS.— 12
(1) Section 168(k) of the Internal Revenue 13
Code of 1986 is amended— 14
(A) in paragraph (2)— 15
(i) in subparagraph (A)— 16
(I) in clause (i)(V), by inserting 17
‘‘and’’ at the end, 18
(II) in clause (ii), by striking 19
‘‘clause (ii) of subparagraph (E), 20
and’’ and inserting ‘‘clause (i) of sub-21
paragraph (E).’’, and 22
(III) by striking clause (iii), 23
(ii) in subparagraph (B)— 24
(I) in clause (i)— 25
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•S 187 IS
(aa) by striking subclauses 1
(II) and (III), and 2
(bb) by redesignating sub-3
clauses (IV) through (VI) as sub-4
clauses (II) through (IV), respec-5
tively, 6
(II) by striking clause (ii), and 7
(III) by redesignating clauses 8
(iii) and (iv) as clauses (ii) and (iii), 9
respectively, 10
(iii) in subparagraph (C)— 11
(I) in clause (i), by striking ‘‘and 12
subclauses (II) and (III) of subpara-13
graph (B)(i)’’, and 14
(II) in clause (ii), by striking 15
‘‘subparagraph (B)(iii)’’ and inserting 16
‘‘subparagraph (B)(ii)’’, and 17
(iv) in subparagraph (E)— 18
(I) by striking clause (i), and 19
(II) by redesignating clauses (ii) 20
and (iii) as clauses (i) and (ii), respec-21
tively, and 22
(B) in paragraph (5)(A), by striking 23
‘‘planted before January 1, 2027, or is grafted 24
before such date to a plant that has already 25
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been planted,’’ and inserting ‘‘planted or graft-1
ed’’. 2
(2) Section 460(c)(6)(B) of such Code is 3
amended by striking ‘‘which’’ and all that follows 4
through the period and inserting ‘‘which has a recov-5
ery period of 7 years or less.’’. 6
(c) E
FFECTIVEDATE.—The amendments made by 7
this section shall take effect as if included in section 8
13201 of Public Law 115–97. 9
Æ
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