[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3913 Introduced in House (IH)]







105th CONGRESS
  2d Session
                                H. R. 3913

To amend the Internal Revenue Code of 1986 to clarify that natural gas 
   gathering lines are 7-year property for purposes of depreciation.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 20, 1998

   Mr. Sam Johnson of Texas 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 clarify that natural gas 
   gathering lines are 7-year property for purposes of depreciation.

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

SECTION 1. NATURAL GAS GATHERING LINES TREATED AS 7-YEAR PROPERTY.

    (a) In General.--Subparagraph (C) of section 168(e)(3) of the 
Internal Revenue Code of 1986 (relating to classification of certain 
property) is amended by redesignating clause (ii) as clause (iii) and 
by inserting after clause (i) the following new clause:
                            ``(ii) any natural gas gathering line, 
                        and''.
    (b) Natural Gas Gathering Line.--Subsection (i) of section 168 of 
such Code is amended by adding at the end the following new paragraph:
            ``(15) Natural gas gathering line.--The term `natural gas 
        gathering line' means the pipe, equipment, and appurtenances 
        used to deliver natural gas from the wellhead to the point at 
        which such gas first reaches--
                    ``(A) a gas processing plant,
                    ``(B) an interconnection with an interstate 
                natural-gas company (as defined in section 2(6) of the 
                Natural Gas Act), or
                    ``(C) an interconnection with an intrastate 
                transmission pipeline.''
    (c) Effective Date.--The amendments made by this section shall 
apply to property placed in service before, on, or after the date of 
the enactment of this Act.
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