- Stage
- In committee
- Started in
- House
- Sponsors
- 12
- Latest action
- Apr 10, 2025
What it does
The RESILIENCE Act of 2025 would amend the Internal Revenue Code to require that adjusted financial statement income be reduced by certain repair and maintenance deductions related to public utility property, specifically those tied to depreciation under Section 168. This change would affect taxpayers who own and report financial statements for public utility property described in Section 168(i)(10), aligning financial statement income more closely with taxable income calculations for such assets. The amendment would apply to taxable years beginning after December 31, 2024.
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.