arrow_back Back to App

Permanent Tax Rule for Businesses on Indian Reservations

This bill makes a tax rule permanent for businesses operating mainly on Indian reservations. It allows them to continue using a specific method to deduct the cost of their property over time, which can encourage investment and economic growth in these areas.
Key points
Makes a tax rule for property depreciation on Indian reservations permanent.
Applies to property put into use after December 31, 2021.
Aims to support economic activity on reservations by providing tax certainty for businesses.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_1149
Sponsor: Sen. Inhofe, James M. [R-OK]
Process start date: 2021-04-15
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

A bill to amend the Internal Revenue Code of 1986 to permanently extend the depreciation rules for property used predominantly within an Indian reservation.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1149.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-15.

What are the main provisions?

Key points include:

  • Makes a tax rule for property depreciation on Indian reservations permanent.
  • Applies to property put into use after December 31, 2021.
  • Aims to support economic activity on reservations by providing tax certainty for businesses.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Inhofe, James M. [R-OK].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Economy