[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1379 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 1379

     To amend the Internal Revenue Code of 1986 to treat electric 
  transmission property as 15-year property for depreciation purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 17, 2005

Mr. English of Pennsylvania (for himself, Mr. McCrery, Mr. Murphy, Mr. 
 Foley, Mr. Herger, Mr. Shaw, Mr. Green of Wisconsin, Ms. Baldwin, Mr. 
Peterson of Pennsylvania, and Mr. Sam Johnson of Texas) 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 treat electric 
  transmission property as 15-year property for depreciation purposes.

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

SECTION 1. ELECTRIC TRANSMISSION PROPERTY TREATED AS 15-YEAR PROPERTY.

    (a) In General.--Subparagraph (E) of section 168(e)(3) of the 
Internal Revenue Code of 1986 (relating to classification of certain 
property) is amended by striking ``and'' at the end of clause (v), by 
striking the period at the end of clause (vi) and inserting ``, and'', 
and by adding at the end the following new clause:
                            ``(vii) any section 1245 property (as 
                        defined in section 1245(a)(3)) used in the 
                        transmission at 69 or more kilovolts of 
                        electricity for sale the original use of which 
                        commences with the taxpayer after the date of 
                        the enactment of this clause.''.
    (b) Alternative System.--The table contained in section 
168(g)(3)(B) of such Code is amended by inserting after the item 
relating to subparagraph (E)(vi) the following:

 
 
 
``(E)(vii).................................................        30''.

    (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, in taxable years ending after such date.
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