[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 833 Introduced in Senate (IS)]

  1st Session
                                 S. 833

 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 19 (legislative day, May 15), 1995

   Mr. Hatch (for himself, Mr. Baucus, Mr. Dole, Mr. Campbell, Mrs. 
Feinstein, Mr. Cohen, Mr. Cochran, Mr. Kyl, Mr. Bennett, Mr. Craig, Mr. 
  D'Amato, Mr. Burns, Mr. Rockefeller, and Mrs. Boxer) 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 
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 the following new clause:
                            ``(iii) any semiconductor manufacturing 
                        equipment.''
    (b) Conforming Amendments.--
            (1) Subparagraph (B) of section 168(e)(3) of the Internal 
        Revenue Code of 1986 is amended by striking clause (ii) and by 
        redesignating clauses (iii), (iv), (v), and (vi) as clauses 
        (ii), (iii), (iv), and (v), respectively.
            (2) Subparagraph (B) of section 168(g)(3) of such Code is 
        amended by striking the following:

                        ``(B)(ii)..............................     5''
        and inserting 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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