Leasehold Depreciation and Brownfields Expansion Survive House Vote
June 21, 2004
On Thursday, June 17, the House passed H.R. 4520, the American Jobs Creation Act of 2004, by a vote of 251 to 178. The bill contains two provisions backed by MBA:
- Leasehold Improvement Depreciation. For two years, the leasehold improvement depreciation period is reduced from 39 to 15 years.
- Brownfields. The bill provides for a two-year extension of the Small Business Liability Relief and Brownfields Revitalization Act which authorizes a federal grant program for expensing brownfields cleanup.