[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 1160 Introduced in Senate (IS)]







104th CONGRESS
  1st Session
                                S. 1160

    To amend the Internal Revenue Code of 1986 to provide that the 
  depreciation rules which apply for regular tax purposes also shall 
              apply for alternative minimum tax purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

               August 10 (legislative day, July 10), 1995

Mr. Rockefeller 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 provide that the 
  depreciation rules which apply for regular tax purposes also shall 
              apply for alternative minimum tax purposes.
    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. ALTERNATIVE MINIMUM TAX DEPRECIATION DETERMINED UNDER 
              REGULAR TAX RULES.

    (a) In General.--Clause (i) of section 56(a)(1)(A) of the Internal 
Revenue Code of 1986 (relating to depreciation) is amended by inserting 
``and before January 1, 1995'' after ``December 31, 1986''.
    (b) ACE Preference.--Subparagraph (A) of section 56(g)(4) of such 
Code is amended by striking clause (iv), by redesignating clauses (i), 
(ii), and (iii) as clauses (ii), (iii), and (iv), respectively, and by 
inserting before clause (ii) the following new clause:
                            ``(i) Property placed in service before 
                        1981 and after 1994.--In the case of property 
                        not described in clause (ii), (iii), or (iv), 
                        the amount allowable as depreciation or 
                        amortization with respect to such property 
                        shall be determined in the same manner as for 
                        purposes of computing taxable income.''
    (c) Conforming Amendment.--Clause (ii) of section 56(g)(4)(A) of 
such Code, as redesignated by subsection (b), is amended--
            (1) by inserting ``and before 1995'' after ``after 1989'' 
        in the heading and the text, and
            (2) by striking ``after December 31, 1993'' and inserting 
        ``during 1994''.
    (d) Effective Date.--The amendments made by this section shall 
apply to property placed in service after December 31, 1994.
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