One Big Beautiful Bill Act
Federal legislation signed into law in 2025 that, among other provisions, permanently restored 100% bonus depreciation for qualified property placed in service after January 19, 2025. This reversed the phase-down schedule that had reduced bonus depreciation to 40% for 2025.
Tax Cuts and Jobs Act
Major tax reform legislation enacted in December 2017 that temporarily increased bonus depreciation to 100% for property placed in service after September 27, 2017, and before January 1, 2023, with a phase-down schedule through 2027. It also expanded bonus depreciation to cover used property for the first time.