[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1241 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 1241

    To amend the Internal Revenue Code of 1986 to provide a shorter 
 recovery period for the depreciation of certain systems installed in 
                       nonresidential buildings.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 10, 2005

 Mr. Hoekstra (for himself, Mr. Souder, Mr. Ehlers, Mr. McCotter, Mr. 
 Dicks, Mr. Gary G. Miller of California, Mr. Chabot, Mr. McHugh, Mr. 
   Akin, Ms. Velazquez, Mr. Baird, Mr. Ruppersberger, Mr. Larsen of 
Washington, Mr. Davis of Illinois, Mr. Franks of Arizona, Mr. Kind, Mr. 
Manzullo, Mr. Upton, Mr. Knollenberg, Mr. Rogers of Michigan, Mr. Ford, 
 Mr. Platts, and Mr. Calvert) 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 provide a shorter 
 recovery period for the depreciation of certain systems installed in 
                       nonresidential buildings.

    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 ``Cool and Efficient Buildings Act''.

SEC. 2. RECOVERY PERIOD FOR DEPRECIATION OF CERTAIN SYSTEMS INSTALLED 
              IN NONRESIDENTIAL BUILDINGS.

    (a) 20-Year Recovery Period.--Subparagraph (F) of section 168(e)(3) 
of the Internal Revenue Code of 1986 (relating to 20-year property) is 
amended to read as follows:
                    ``(F) 20-year property.--The term `20-year 
                property' means--
                            ``(i) initial clearing and grading land 
                        improvements with respect to any electric 
                        utility transmission and distribution plant, 
                        and
                            ``(ii) any property--
                                    ``(I) which is part of a heating, 
                                ventilation, air conditioning, or 
                                commercial refrigeration system,
                                    ``(II) which is installed on or in 
                                a building which is nonresidential real 
                                property, and
                                    ``(III) the original use of which 
                                commences with the taxpayer.''.
    (b) Requirement to Use Straight Line Method.--Paragraph (3) of 
section 168(b) of such Code (relating to property to which straight 
line method applies) is amended by adding at the end the following new 
subparagraph:
                    ``(G) Property described in subsection 
                (e)(3)(F)(ii).''.
    (c) Alternative System.--The table contained in section 
168(g)(3)(B) of such Code is amended by striking the item relating to 
subparagraph (F) and inserting the following new items:


 
 
 
``(F)(i)...................................................           25
(F)(ii)....................................................        25''.
 

    (d) Effective Date.--The amendments made by this section shall 
apply to property placed in service after December 31, 2005.
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