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AIMM Act

H.R. 1347 Rep. Adrian Smith (R-NE-3) In committee
Bill text PDF
  1. Introduced Feb 13
  2. Committee Feb 13
  3. Passed House Next
  4. Passed Senate Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Feb 13, 2025Next: House vote
622d ago Feb 13, 2025: Referred to the House Committee on Ways and Means.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
14companies, 59 filings
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Member trades
21trades in the last 90 days
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Companies lobbying on this bill

14 companies
Companies by sector
Communications & Media 3Consumer & Retail 3Biotech & Pharma 2Industrials 2Mining & Materials 2Energy 1Services 1
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Summary

This bill permanently extends the allowance for depreciation, amortization, or depletion when calculating the income limitation on the deduction for business interest under the Internal Revenue Code. Sec. 2, Permanent extension of allowance for depreciation, amortization, or depletion in determining the limitation on business interest: The bill amends section 163(j)(8)(A)(v) of the Internal Revenue Code of 1986 by removing the phrase 'in the case of taxable years beginning before January 1, 2022,' which previously limited the allowance to tax years before 2022. This change makes the allowance permanent. The amendment applies to taxable years beginning after December 31, 2021.

Summary of the bill text as introduced in House (Feb 13, 2025), generated by SecBot from the official bill text; the Library of Congress summary is not yet published.

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.