[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3098 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 3098

To amend the Internal Revenue Code of 1986 to classify office furniture 
      as 5-year property for purposes of accelerated depreciation.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 11, 2001

    Mr. Hoekstra (for himself, Mr. Ehlers, Mr. Upton, Mr. Camp, Mr. 
    Knollenberg, Mr. Smith of Michigan, and Mr. Rogers of Michigan) 
 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 classify office furniture 
      as 5-year property for purposes of accelerated depreciation.

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

SECTION 1. 5-YEAR CLASS LIFE FOR OFFICE FURNITURE PROPERTY.

    (a) 5-Year Property.--Subparagraph (B) of section 168(e)(3) of the 
Internal Revenue Code of 1986 (relating to classification of certain 
property as 5-year property) is amended by striking ``and'' at the end 
of clause (v), by striking the period at the end of clause (vi) and 
inserting ``, and'', and by inserting after clause (vi) the following 
new clause:
                            ``(vii) any office furniture property.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to property placed in service on or after the date of the enactment of 
this Act.
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