Code · BILL · 113th Congress · H.R. 1 (Introduced in House) — To amend the Internal Revenue Code of 1986 to provide for comprehensive tax reform. · Sec. 3134

Sec. 3134. Restriction on trade or business property treated as similar or related in service to involuntarily converted property in disaster areas

46 words·~1 min read·/bill/113/hr/1/ih/section-3134

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 1033(h)(2) is amended by inserting if the class life of such tangible property does not exceed the class life of the property so converted before the period at the end. The amendment made by this section shall apply to disasters declared after December 31, 2014.