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Senate Passes Provision Extending Bonus Depreciation

GAMA NEWS 04-25 For Immediate Release: Oct 11, 2004

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.”

Communications Director:
Andre Castro:
General Aviation Manufacturers Association
Headquarters: (+1) 202-393-1500
European Office: (+32) 2 550-3900

GAMA exists to foster and advance the general welfare, safety, interests, and activities of the global business and general aviation industry. This includes promoting a better understanding of general aviation manufacturing, maintenance, repair, and overhaul and the important role these industry segments play in economic growth and opportunity, and in serving the critical transportation needs of communities, companies, and individuals worldwide.