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HR 3159
Introduced Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.

To amend the Internal Revenue Code of 1986 and the Office of Federal Procurement Policy Act to provide economic benefits to small businesses.

To amend the Internal Revenue Code of 1986 and the Office of Federal Procurement Policy Act to provide economic benefits to small businesses.

Introduced Oct 17, 2001

Latest action (Oct 31, 2001) Referred to the Subcommittee on Technology and Procurement Policy.

Referred to
Technology and Procurement Policy Subcommittee Oversight and Government Reform Committee Small Business Committee Ways and Means Committee
Policy area
Taxation
Issues
Economy & Taxes

Summary

The bill provides tax and federal procurement benefits to small businesses. On the tax side, it increases the deductible portion of meals and entertainment expenses from 50 percent to 80 percent, increases the Section 179 business expensing limit to $50,000 (and the phaseout threshold to $500,000), and reduces the depreciation recovery period for qualified technological equipment to 2 years. On the procurement side, it increases the micro-purchase threshold for purchases from small businesses to $100,000 and exempts certain small business contracts funded by post-9/11 emergency appropriations from standard program limitations.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)

Actions (3)
  1. Oct 31, 2001 Referred to the Subcommittee on Technology and Procurement Policy. · house
  2. Oct 17, 2001 Referred to the Committee on Ways and Means, and in addition to the Committees on Government Reform, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. · house
  3. Oct 17, 2001 Introduced in House

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • HR 3223 — To amend the Internal Revenue Code of 1986 to establish procedures relating to the attribution of errors in the case of third party payors of payroll taxes, and for other purposes. · Introduced May 6, 2025 · Cong. 119 82%
  • S 1856 — A bill to amend the Internal Revenue Code of 1986 to exclude military bonuses from gross income. · Introduced May 22, 2025 · Cong. 119 79%
  • HR 3515 — To amend the Internal Revenue Code of 1986 to exclude military bonuses from gross income. · Introduced May 20, 2025 · Cong. 119 77%
  • HR 4184 — To amend the Internal Revenue Code of 1986 to exclude from gross income certain compensation to clinical trial participants, and for other purposes. · Introduced Jun 26, 2025 · Cong. 119 76%
  • S 2207 — A bill to amend the Internal Revenue Code of 1986 to reform the treatment of digital assets. · Introduced Jun 30, 2025 · Cong. 119 75%
  • S 2358 — IRS Accountability and Taxpayer Protection Act · Introduced Jul 21, 2025 · Cong. 119 75%

Text versions (1)
  • Introduced in House · Oct 17, 2001

Only one text version is on file, so there’s no earlier version to compare against yet.

Full text

IN THE HOUSE OF REPRESENTATIVES

October 17, 2001

Mr. Wynn introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on Government Reform, and Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned

A BILL

To amend the Internal Revenue Code of 1986 and the Office of Federal Procurement Policy Act to provide economic benefits to small businesses.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. INCREASED DEDUCTION FOR MEALS AND ENTERTAINMENT EXPENSES.

(a) In General.—Paragraph (1) of section 274(n) of the Internal Revenue Code of 1986 (relating to only 50 percent of meal and entertainment expenses allowed as deduction) is amended by striking “50 percent” and inserting “80 percent”.

(b) Conforming Amendments.—

(1) Paragraph (3) of section 274(n) of such Code is hereby repealed.

(2) The heading for subsection (n) of section 274 of such Code is amended by striking “50 Percent” and inserting “80 Percent”.

(c) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2001.

SEC. 2. INCREASE IN EXPENSING UNDER SECTION 179.

(a) In General.—Paragraph (1) of section 179(b) of the Internal Revenue Code of 1986 (relating to dollar limitation) is amended by striking “shall not exceed” and all that follows and inserting “shall not exceed $50,000.”.

(b) Increase in Amount of Property Triggering Phaseout of Maximum Benefit.—Paragraph (2) of section 179(b) of such Code is amended by striking “$200,000” and inserting “$500,000”.

(c) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2001.

SEC. 3. DEPRECIATION RECOVERY PERIOD FOR QUALIFIED TECHNOLOGICAL EQUIPMENT REDUCED TO 2 YEARS.

(a) In General.—Paragraph (3) of section 168(e) of the Internal Revenue Code of 1986 (relating to classification of property) is amended by redesignating subparagraphs (A) through (E) as subparagraphs

(B) through (F), respectively, and by inserting before subparagraph (B) (as so redesignated) the following new subparagraph:

“(A) 2-year property.—The term ‘2-year property’ means qualified technological equipment.”

(b) 2-Year Recovery Period Under Alternative Depreciation System.— Subparagraph (C) of section 168(g)(3) of such Code (relating to alternative depreciation system for certain property) is amended by striking “5 years” and inserting “2 years”.

(c) Conforming Amendments.—

(1) Paragraph (1) of section 168(c) of such Code is amended by inserting before the first item in the table the following new item:

“2-year property.................................. 2 years”.

(2) Clause (iv) of section 168(e)(3)(B) of such Code is amended by striking clause (iv) and by redesignating clauses

(v) and (vi) as clauses (iv) and (v), respectively.

(d) Effective Date.—The amendments made by this section shall apply to property placed in service after December 31, 2001.

SEC. 4. INCREASE IN MICRO-PURCHASE THRESHOLD FOR PURCHASES FROM SMALL BUSINESSES.

(a) In General.—Section 32(f) of the Office of Federal Procurement Policy Act (41 U.S.C. 428(f)) is amended by inserting before the period at the end the following: “, except that with respect to any purchase from a small business concern (as defined in section 3(a) of the Small Business Act (15 U.S.C. 632(a)) the micro-purchase threshold is the amount of $100,000”.

(b) Conforming Amendments.—Subsections (c) and (d) of section 32 of the Office of Federal Procurement Policy Act (41 U.S.C. 428) are amended by striking “$2,500” and inserting “the micro-purchase threshold”.

SEC. 5. SOLE SOURCE PROCUREMENTS PURSUANT TO THE 2001 EMERGENCY SUPPLEMENTAL APPROPRIATIONS ACT FOR RECOVERY FROM AND RESPONSE TO TERRORIST ATTACKS ON THE UNITED STATES.

Sections 8(a)(1)(D)(i)(II) and 31(b)(2)(A)(ii) of the Small Business Act (15 U.S.C. 631 et seq.) shall not apply with respect to any contract funded by amounts appropriated under the 2001 Emergency Supplemental Appropriations Act for Recovery from and Response to Terrorist Attacks on the United States (Public Law 107-38). <all>

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