[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 1679 Introduced in Senate (IS)]







108th CONGRESS
  1st Session
                                S. 1679

 To amend the Internal Revenue Code of 1986 to reduce the depreciation 
                   recovery period for roof systems.


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                   IN THE SENATE OF THE UNITED STATES

           September 30 (legislative day, September 29), 2003

  Mr. Bunning 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 reduce the depreciation 
                   recovery period for roof systems.

    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 ``Realistic Roofing Tax Treatment Act 
of 2003''.

SEC. 2. DEPRECIATION RECOVERY PERIOD FOR ROOF SYSTEMS.

    (a) 20-Year Recovery Period.--Paragraph (3) of section 168(e) of 
the Internal Revenue Code of 1986 (relating to classification of 
certain property) is amended by adding at the end the following new 
subparagraph:
                    ``(F) 20-year property.--The term `20-year 
                property' includes any roof system.''.
    (b) Requirement To Use Straight Line Method.--Paragraph (3) of 
section 168(b) of such Code is amended by adding at the end the 
following new subparagraph:
                    ``(G) Any roof system.''.
    (c) Alternative System.--The table contained in section 
168(g)(3)(B) of such Code is amended by adding at the end the following 
new item:

  ``(F)..............................................       20''.      
    (d) 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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