Job creation and worker assistance act of 2002 title i business provisions amends the internal revenue code irc to allow an additional first year 30 percent depreciation allowance for property which has a recovery period of 20 years or less is water utility property or computer software and which was acquired between september 10 2001 and september 11 2004 and is placed in . Get this from a library 2002 tax legislation law explanation and analysis job creation and worker assistance act of 2002 cch incorporated. By kenneth h bridges cpa pfs on march 9th president bush signed into law the job creation and worker assistance act of 2002 highlights of the legislation bonus depreciation for most new depreciable assets other than buildings placed in service after september 10 2001 and before september 11 2004 30 of the cost may be expensed . Legislation in the united states that reduced taxes on businesses without changing tax bracketsit accomplished this by temporarily increasing deductions exemptions and the number of years for which one may use a tax loss carrybackthe idea behind the act was to encourage job creation by allowing businesses to keep more of their earnings the effects of this type of policy are disputed. This is the one from the 107 th congress this bill was introduced in the 107 th congress which met from jan 3 2001 to nov 22 2002 legislation not enacted by the end of a congress is cleared from the books
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