America's Small Business Tax Relief Act of 2015
This bill makes permanent after 2014 the $500,000 allowance for the expensing of depreciable business property. - (section 179 property) and the $2 million threshold after which the amount of such allowance is reduced. Both the allowance and the threshold amount are indexed for inflation for taxable years beginning after 2015. The allowance is also made permanent for computer software and qualified real property (i.e., qualified leasehold improvement property, restaurant property, and retail improvement property). The exclusion of air conditioning and heating units from the definition of section 179 property is eliminated.
The taxpayer is allowed to revoke an election to expense section 179 property without first obtaining consent from the Department of the Treasury.
(Sec. 3) This provision exempts the budgetary effects of this Act from PAYGO scorecards under the Statutory Pay-As-You-Go Act of 2010.