[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1535 Introduced in House (IH)]







108th CONGRESS
  1st Session
                                H. R. 1535

 To amend the Internal Revenue Code of 1986 to repeal the mid-quarter 
                  convention for depreciable property.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 1, 2003

 Mr. English introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to repeal the mid-quarter 
                  convention for depreciable property.

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

SECTION 1. REPEAL OF MID-QUARTER CONVENTION.

    (a) In General.--Subsection (d) of section 168 of the Internal 
Revenue Code of 1986 (relating to applicable convention) is amended by 
striking paragraph (3) and redesignating paragraph (4) as paragraph 
(3).
    (b) Conforming Amendment.--Section 168(d)(3) of such Code (as 
redesignated by subsection (a)) is amended by striking subparagraph 
(C).
    (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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