| 1 | 1 | | II |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION S. 559 |
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| 5 | 5 | | To amend the Internal Revenue Code of 1986 to permanently extend the |
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| 6 | 6 | | allowance for depreciation, amortization, or depletion for purposes of |
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| 7 | 7 | | determining the income limitation on the deduction for business interest. |
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| 8 | 8 | | IN THE SENATE OF THE UNITED STATES |
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| 9 | 9 | | FEBRUARY13, 2025 |
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| 10 | 10 | | Mrs. C |
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| 11 | 11 | | APITOintroduced the following bill; which was read twice and referred |
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| 12 | 12 | | to the Committee on Finance |
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| 13 | 13 | | A BILL |
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| 14 | 14 | | To amend the Internal Revenue Code of 1986 to permanently |
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| 15 | 15 | | extend the allowance for depreciation, amortization, or |
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| 16 | 16 | | depletion for purposes of determining the income limita- |
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| 17 | 17 | | tion on the deduction for business interest. |
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| 18 | 18 | | Be it enacted by the Senate and House of Representa-1 |
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| 19 | 19 | | tives of the United States of America in Congress assembled, 2 |
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| 20 | 20 | | SECTION 1. SHORT TITLE. 3 |
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| 21 | 21 | | This Act may be cited as the ‘‘American Investment 4 |
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| 22 | 22 | | in Manufacturing and Main Street Act’’ or the ‘‘AIMM 5 |
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| 23 | 23 | | Act’’. 6 |
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| 24 | 24 | | VerDate Sep 11 2014 22:35 Mar 07, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S559.IS S559 |
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| 25 | 25 | | ssavage on LAPJG3WLY3PROD with BILLS 2 |
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| 26 | 26 | | •S 559 IS |
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| 27 | 27 | | SEC. 2. PERMANENT EXTENSION OF ALLOWANCE FOR DE-1 |
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| 28 | 28 | | PRECIATION, AMORTIZATION, OR DEPLETION 2 |
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| 29 | 29 | | IN DETERMINING THE LIMITATION ON BUSI-3 |
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| 30 | 30 | | NESS INTEREST. 4 |
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| 31 | 31 | | (a) I |
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| 32 | 32 | | NGENERAL.—Section 163(j)(8)(A)(v) of the In-5 |
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| 33 | 33 | | ternal Revenue Code of 1986 is amended by striking ‘‘in 6 |
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| 34 | 34 | | the case of taxable years beginning before January 1, 7 |
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| 35 | 35 | | 2022,’’. 8 |
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| 36 | 36 | | (b) E |
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| 37 | 37 | | FFECTIVEDATE.—The amendment made by 9 |
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| 38 | 38 | | this section shall apply to taxable years beginning after 10 |
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| 39 | 39 | | December 31, 2021. 11 |
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| 40 | 40 | | Æ |
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| 41 | 41 | | VerDate Sep 11 2014 22:35 Mar 07, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S559.IS S559 |
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| 42 | 42 | | ssavage on LAPJG3WLY3PROD with BILLS |
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