[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 752 Introduced in Senate (IS)]







107th CONGRESS
  1st Session
                                 S. 752

   To amend the Internal Revenue Code of 1986 to reclassify computer 
       equipment as 3-year property for purposes of depreciation.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 6, 2001

   Mr. Burns 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 reclassify computer 
       equipment as 3-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. RECLASSIFICATION OF COMPUTER EQUIPMENT AS 3-YEAR PROPERTY.

    (a) In General.--Section 168(e)(3)(A) of the Internal Revenue Code 
of 1986 (defining 3-year 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 computer or peripheral 
                        equipment.''.
    (b) Conforming Amendments.--
            (1) Section 168(e)(3)(B)(iv) of the Internal Revenue Code 
        of 1986 is amended by inserting ``(other than computer or 
        peripheral equipment)'' after ``qualified technological 
        equipment''.
            (2) The table contained in section 168(g)(3)(B) of such 
        Code is amended by inserting after the item relating to 
        subparagraph (A)(iii) the following new item:

``(A)(iv)...................................................       3''.
            (3) Section 168(g)(3)(C) of such Code is amended by 
        inserting ``(other than computer or peripheral equipment)'' 
        after ``qualified technological equipment''.
    (c) Effective Date.--The amendments made by this section shall 
apply to property placed in service after the date of the enactment of 
this Act.
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