[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1061 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 1061

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 27, 1995

 Mrs. Johnson of Connecticut (for herself, Mr. Matsui, Mr. Crane, Mrs. 
   Kennelly, and Ms. Eshoo) introduced the following bill; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                                 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 
1995''.

SEC. 2. 3-YEAR DEPRECIABLE LIFE FOR SEMICONDUCTOR MANUFACTURING 
              EQUIPMENT.

    (a) In General.--Subparagraph (A) of section 168(e)(3) of the 
Internal Revenue Code of 1986 (relating to classification of 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 
adding at the end thereof the following new clause:
                    ``(iii) any semiconductor manufacturing 
                equipment.''
    (b) Conforming Amendments.--
            (1) Subparagraph (B) of section 168(e)(3) of such Code is 
        amended by striking clause (ii) and by redesignating the 
        succeeding clauses accordingly.
            (2) Subparagraph (B) of section 168(g)(3) of such Code is 
        amended by striking the following:

                        ``(B)(ii)..............................     5''
        and inserting in lieu thereof the following:

                        ``(A)(iii).............................    3''.
    (c) Effective Date.--The amendments made by this section shall 
apply to equipment placed in service after the date of the enactment of 
this Act.
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