H.R. 5974 · 112th Congress
Invest in America Now Act of 2012
- Stage
- In committee
- Sponsor
- Sander Levin
- Introduced
- 2012-06-20
- Latest action
- 2012-06-20 · Introduced in House
Summary
Invest in America Now Act of 2012 - Amends the Internal Revenue Code to: (1) extend through 2012 the 100% bonus depreciation allowance for business assets; (2) increase the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation; and (3) deny major integrated oil companies a tax deduction for income attributable to the domestic production, transportation, or distribution of oil, natural gas, and primary products thereof.