II
119THCONGRESS
1
STSESSION S. 559
To amend the Internal Revenue Code of 1986 to permanently extend the
allowance for depreciation, amortization, or depletion for purposes of
determining the income limitation on the deduction for business interest.
IN THE SENATE OF THE UNITED STATES
FEBRUARY13, 2025
Mrs. C
APITOintroduced 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
extend the allowance for depreciation, amortization, or
depletion for purposes of determining the income limita-
tion on the deduction for business interest.
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 ‘‘American Investment 4
in Manufacturing and Main Street Act’’ or the ‘‘AIMM 5
Act’’. 6
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•S 559 IS
SEC. 2. PERMANENT EXTENSION OF ALLOWANCE FOR DE-1
PRECIATION, AMORTIZATION, OR DEPLETION 2
IN DETERMINING THE LIMITATION ON BUSI-3
NESS INTEREST. 4
(a) I
NGENERAL.—Section 163(j)(8)(A)(v) of the In-5
ternal Revenue Code of 1986 is amended by striking ‘‘in 6
the case of taxable years beginning before January 1, 7
2022,’’. 8
(b) E
FFECTIVEDATE.—The amendment made by 9
this section shall apply to taxable years beginning after 10
December 31, 2021. 11
Æ
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