To direct the Secretary of the Treasury to increase the dollar limitation on the de minimis safe harbor from treatment as a capital expenditure for taxpayers without applicable financial statements.

In general— Not later than 180 days after the date of the enactment of this Act, the Secretary of the Treasury (or the Secretary’s designee) shall modify Treasury Regulation section 1.263(a)–1(f)(1)(ii)(D) to increase the $500 limitation contained therein with respect to the de minimis safe harbor for taxpayers without applicable financial statements to $1,000.

Effective date— The revised regulations under this section shall apply to amounts paid or incurred in taxable years beginning after December 31, 2013.