119-HR1347
AIMM Act
Last action was on 2-13-2025
SenateCurrent status is Referred to the House Committee on Ways and Means.
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119th CONGRESS
1st Session
H. R. 1347
1. Short title2. Permanent extension of allowance for depreciation, amortization, or depletion in determining the limitation on business interest1. Short title
This Act may be cited as the "American Investment in Manufacturing and Main Street Act" or the "AIMM Act".
2. Permanent extension of allowance for depreciation, amortization, or depletion in determining the limitation on business interest
(a) In general - Section 163(j)(8)(A)(v) of the Internal Revenue Code of 1986 is amended by striking "in the case of taxable years beginning before January 1, 2022,".
(b) Effective date - The amendment made by this section shall apply to taxable years beginning after December 31, 2021.