[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 915 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                 S. 915

 To amend the Internal Revenue Code of 1986 to more accurately codify 
     the depreciable life of semiconductor manufacturing equipment.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                May 6 (legislative day, April 19), 1993

  Mr. Baucus (for himself and Mr. Packwood) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to more accurately codify 
     the depreciable life of semiconductor manufacturing equipment.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Semiconductor Investment Act of 
1993''.

SEC. 2. THREE-YEAR DEPRECIABLE LIFE FOR SEMICONDUCTOR MANUFACTURING 
              EQUIPMENT.

    (a) In General.--Section 168(e)(3)(A) of the Internal Revenue Code 
of 1986 (relating to 3-year property) is amended by striking ``and'' at 
the end of clause (i), by striking the period at the end of clause (ii) 
and inserting ``, and'', and by inserting at the end the following:
                            ``(iii) any semi-conductor manufacturing 
                        equipment.''.
    (b) Conforming Amendments.--
            (1) Section 168(e)(3)(B) of such Code is amended by 
        striking clause (ii) and by redesignating clauses (iii) through 
        (vi) as clauses (ii) through (v), respectively.
            (2) Section 168(g)(3)(B) of such Code is amended--
                    (A) by striking the item relating to subparagraph 
                (B)(ii) and inserting the following new item:


           ``(A)(iii)..........................................    3'',
                and
                    (B) by striking ``(B)(iii)'' and inserting 
                ``(B)(ii)''.
    (c) Effective Date.--The amendments made by this Act shall apply to 
property placed in service after the date of the enactment of this Act.

                                 <all>