High Productivity and Economic Growth Act of 2003

Referred to the House Committee on Ways and Means.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Mar 12, 2003

High Productivity and Economic Growth Act of 2003 - Amends the Internal Revenue Code to allow the expensing of the cost of high productivity property (defined as certain computer and computer related property, electronic equipment, semiconductor manufacturing equipment, optical fiber equipment, advanced environmental or life science products, and etc.). Directs that an election to treat property in such a fashion shall be made on an asset by asset basis, and that the cost of such property shall not include so much of the basis as is determined by reference to the basis of other property held at any time by the taxpayer. Provides for a recapture if the property is not used predominately in a trade or business at any time. Excludes certain property from qualifying for high productivity expensing.Makes permanent the 30 percent expensing for certain property acquired after September 10, 2001.Prescribes that the depreciation rules shall not be modified for purposes of the alternative minimum tax.

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People & committees

Who introduced it

Rep. English, Phil [R-PA-3] · R–PA

Committees

Ways and Means Committee

2 cosponsorship records, including any withdrawals

Legislative record

Actions

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Mar 12, 2003
Referred to the House Committee on Ways and Means.
Mar 12, 2003
Introduced in House
Mar 12, 2003
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Mar 12, 2003 Formatted Text PDF

Related bills identified by Congress.gov

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Source last updated: Aug 18, 2025. Consult Congress.gov for the current record.

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Official record: https://www.congress.gov/bill/108th-congress/house-bill/1234

Text version to examine: Introduced in House · 2003-03-12.

Official full text: https://www.congress.gov/108/bills/hr1234/BILLS-108hr1234ih.htm

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Discuss H.R.1234, 108th Congress: High Productivity and Economic Growth Act of 2003

Official record: https://www.congress.gov/bill/108th-congress/house-bill/1234

Text version to examine: Introduced in House · 2003-03-12.

Official full text: https://www.congress.gov/108/bills/hr1234/BILLS-108hr1234ih.htm

Imported record last updated by the source: 2025-08-18T19:01:25Z. Verify current status and distinguish any later version from the version above.

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Discuss H.R.1234, 108th Congress: High Productivity and Economic Growth Act of 2003

Official record: https://www.congress.gov/bill/108th-congress/house-bill/1234

Text version to examine: Introduced in House · 2003-03-12.

Official full text: https://www.congress.gov/108/bills/hr1234/BILLS-108hr1234ih.htm

Imported record last updated by the source: 2025-08-18T19:01:25Z. Verify current status and distinguish any later version from the version above.

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Discuss H.R.1234, 108th Congress: High Productivity and Economic Growth Act of 2003

Official record: https://www.congress.gov/bill/108th-congress/house-bill/1234

Text version to examine: Introduced in House · 2003-03-12.

Official full text: https://www.congress.gov/108/bills/hr1234/BILLS-108hr1234ih.htm

Imported record last updated by the source: 2025-08-18T19:01:25Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

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