Congressman Todd Tiahrt (R-Kansas) introduced Oct. 15 a bill he says is designed to boost the sales of general aviation.
Called the General Aviation Jobs Act, the bill would extend the current bonus depreciation allowance for another two years and shorten the recovery period for noncommercial aircraft property from five to three years, according to a story in the Wichita Business Journal, which notes the current depreciation tax provision is set to expire by the end of the year.
The story reports:
“Tiahrt said extending the depreciation period will help promote sales in the industry by making the purchase of business aircraft less costly for companies.”
