WASHINGTON, DC, October 11, 2004 ─ Today the U.S. Senate passed a provision extending the “placed-in-service” date for business aircraft to qualify for bonus deprecation until December 31, 2005. These provisions were part of the Jumpstart Our Business Strength (JOBS) Act.
“Bonus depreciation has stimulated industry sales by nearly 30% since it was first enacted,” said Ron Swanda, interim president of GAMA. “Extending the ‘placed-in-service’ date until the end of 2005 provides a real buyer incentive. Without a doubt, this will stimulate jobs growth in our industry. In light of the fact that the National Business Aviation Association’s convention is this week, timing could not have been better.”