To amend the Internal Revenue Code of 1986 to allow partnerships invested in infrastructure property to be treated as publicly traded partnerships, to reduce the depreciation recovery periods for such property, and for other purposes.

Referred to the House Committee on Ways and Means.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Feb 9, 2012

Amends the Internal Revenue Code to: (1) treat income and gains from the use, sale, or exchange of infrastructure property as qualifying income for purposes of the tax treatment of publicly-traded partnerships; (2) exempt publicly-traded partnerships from the limitation on the tax deduction for income attributable to oil-related qualified production activities; (3) allow accelerated depreciation of infrastructure property (i.e., classify such property as five-year property); and (4) treat exchanges of infrastructure property as like-kind exchanges (thus exempting gain from such exchanges from tax).

Defines "infrastructure property" as property which is part of: (1) roads and related improvements; (2) train tracks and related improvements; (3) airports; (4) docks and wharves; (5) facilities for sewage, solid waste disposal, the furnishing of water, the transmission and distribution of natural gas, or the generation, transmission, and distribution of electricity; or (6) communications facilities.

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People & committees

Who introduced it

Rep. Campbell, John [R-CA-48] · R–CA

Committees

Ways and Means Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

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Feb 9, 2012
Referred to the House Committee on Ways and Means.
Feb 9, 2012
Introduced in House
Feb 9, 2012
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 · Feb 9, 2012 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Feb 7, 2024. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze H.R.4001 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

View full prompt & sources

Discuss H.R.4001, 112th Congress: To amend the Internal Revenue Code of 1986 to allow partnerships invested in infrastructure property to be treated as publicly traded partnerships, to reduce the depreciation recovery periods for such property, and for other purposes.

Official record: https://www.congress.gov/bill/112th-congress/house-bill/4001

Text version to examine: Introduced in House · 2012-02-09.

Official full text: https://www.congress.gov/112/bills/hr4001/BILLS-112hr4001ih.htm

Imported record last updated by the source: 2024-02-07T16:34:53Z. 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.

Analyze H.R.4001 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.4001 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

View full prompt & sources

Discuss H.R.4001, 112th Congress: To amend the Internal Revenue Code of 1986 to allow partnerships invested in infrastructure property to be treated as publicly traded partnerships, to reduce the depreciation recovery periods for such property, and for other purposes.

Official record: https://www.congress.gov/bill/112th-congress/house-bill/4001

Text version to examine: Introduced in House · 2012-02-09.

Official full text: https://www.congress.gov/112/bills/hr4001/BILLS-112hr4001ih.htm

Imported record last updated by the source: 2024-02-07T16:34:53Z. 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.

Examine H.R.4001 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.4001 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.4001, 112th Congress: To amend the Internal Revenue Code of 1986 to allow partnerships invested in infrastructure property to be treated as publicly traded partnerships, to reduce the depreciation recovery periods for such property, and for other purposes.

Official record: https://www.congress.gov/bill/112th-congress/house-bill/4001

Text version to examine: Introduced in House · 2012-02-09.

Official full text: https://www.congress.gov/112/bills/hr4001/BILLS-112hr4001ih.htm

Imported record last updated by the source: 2024-02-07T16:34:53Z. 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.

Examine H.R.4001 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.4001 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.4001, 112th Congress: To amend the Internal Revenue Code of 1986 to allow partnerships invested in infrastructure property to be treated as publicly traded partnerships, to reduce the depreciation recovery periods for such property, and for other purposes.

Official record: https://www.congress.gov/bill/112th-congress/house-bill/4001

Text version to examine: Introduced in House · 2012-02-09.

Official full text: https://www.congress.gov/112/bills/hr4001/BILLS-112hr4001ih.htm

Imported record last updated by the source: 2024-02-07T16:34:53Z. 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.

Examine H.R.4001 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.