Rep. Todd Tiahrt introduced two bills in the House this week that he said will allow companies to recover more of their operating expenses and accelerate depreciation on new commercial real estate and for leasehold improvements to existing property.
"What we are trying to achieve is an environment where businesses are able to create jobs by taking advantage of market-based solutions that stimulate new economic activity and capital investments," Tiahrt said in a news release today.
The first bill, HR 4013, is the House version of legislation sponsored by Sen. Sam Brownback that extends the carry-back period for net operating losses to five years, instead of the two years under current law. It also removes what Tiahrt called an arbitrary cap that prevents larger businesses from utilizing the tax provision. The bill requires the cost of the net operating loss provision be paid for using funds that haven't been spent from the Obama administration's stimulus program.
The other bill, HR 4012, would create an economic incentive for construction of commercial real estate properties as well as renovations to existing properties.