EXTENSION OF INCREASED EXPENSING LIMITATIONS AND TREATMENT OF CERTAIN REAL PROPERTY AS SECTION 179 PROPERTY.

SEC. 315. EXTENSION OF INCREASED EXPENSING LIMITATIONS AND TREATMENT OF CERTAIN REAL PROPERTY AS SECTION 179 PROPERTY. (a) In General.— (1) Dollar limitation.—Section 179(b)(1) is amended— (A) by striking “2010 or 2011,” in subparagraph (B) and inserting “2010, 2011, 2012, or 2013, and”, (B) by striking subparagraph (C), (C) by redesignating subparagraph (D) as subparagraph (C), and (D) in subparagraph (C), as so redesignated, by striking “2012” and inserting “2013”. (2) Reduction in limitation.—Section 179(b)(2) is amended— (A) by striking “2010 or 2011,” in subparagraph (B) and inserting “2010, 2011, 2012, or 2013, and”, (B) by striking subparagraph (C), (C) by redesignating subparagraph (D) as subparagraph (C), and (D) in subparagraph (C), as so redesignated, by striking “2012” and inserting “2013”. (3) Conforming amendment.—Subsection (b) of section 179 is amended by striking paragraph (6). (b) [26 U.S.C. 179] Computer Software.—Section 179(d)(1)(A)(ii) is amended by striking “2013” and inserting “2014”. (c) Election.—Section 179(c)(2) is amended by striking “2013” and inserting “2014”. (d) Special Rules for Treatment of Qualified Real Property.— (1) In general.—Section 179(f)(1) is amended by striking “2010 or 2011” and inserting “2010, 2011, 2012, or 2013”. (2) Carryover limitation.— (A) In general.—Section 179(f)(4) is amended by striking “2011” each place it appears and inserting “2013”. (B) Conforming amendment.—Subparagraph (C) of section 179(f)(4) is amended— (i) in the heading, by striking “2010” and inserting “2010, 2011 and 2012”, and (ii) by adding at the end the following: “For the last taxable year beginning in 2013, the amount determined under subsection (b)(3)(A) for such taxable year shall be determined without regard to this paragraph.”. (e) [26 U.S.C. 179 note] Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2011.