[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2895 Introduced in House (IH)]







108th CONGRESS
  1st Session
                                H. R. 2895

To amend the Internal Revenue Code of 1986 to extend bonus depreciation 
                              for 2 years.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 24, 2003

 Mr. Wilson of South Carolina 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 extend bonus depreciation 
                              for 2 years.

    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 ``Bonus Depreciation Extension Act of 
2003''.

SEC. 2. 2-YEAR EXTENSION OF BONUS DEPRECIATION.

    (a) 50-Percent Bonus Depreciation.--Section 168(k)(4) of the 
Internal Revenue Code of 1986 (as amended by the Jobs and Growth Tax 
Relief Reconciliation Act of 2003) is amended by striking ``January 1, 
2005'' each place it appears and inserting ``January 1, 2007''.
    (b) 30-Percent Bonus Depreciation.--Section 168(k)(2) of such Code 
(as so amended) is amended by striking ``January 1, 2005'' each place 
it appears and inserting ``January 1, 2007''.
    (c) Conforming Amendment.--The subsection heading for section 
168(k) of such Code (as so amended) is amended by striking ``January 1, 
2005'' and inserting ``January 1, 2007''.
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