[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 1150 Introduced in Senate (IS)]







106th CONGRESS
  1st Session
                                S. 1150

 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 27, 1999

Mr. Hatch (for himself, Mr. Baucus, Mrs. Feinstein, Mr. Kyl, Mr. Robb, 
 and Mr. Bingaman) 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 Equipment Investment 
Act of 1999''.

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 (ii), by striking 
the period at the end of clause (iii) and inserting ``, and'', and by 
adding at the end the following new clause:
                    ``(iv) any semiconductor manufacturing equipment.''
    (b) Conforming Amendments.--
            (1) Subparagraph (B) of section 168(e)(3) of such Code is 
        amended--
                    (A) by striking clause (ii),
                    (B) by redesignating clauses (iii) through (vi) as 
                clauses (ii) through (v), respectively, and
                    (C) by striking ``clause (vi)(I)'' in the last 
                sentence and inserting ``clause (v)(I)''.
            (2) Subparagraph (B) of section 168(g)(3) of such Code is 
        amended by striking the items relating to subparagraph (B)(ii) 
        and subparagraph (B)(iii) and inserting the following:

                        ``(A)(iv)..............................      3 
                        ``(B)(ii)..............................  9.5''.
    (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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