109 HR 1510 IH: Realistic Roofing Tax Treatment Act of 2005 U.S. House of Representatives 2005-04-06 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 109th CONGRESS 1st Session H. R. 1510 IN THE HOUSE OF REPRESENTATIVES April 6, 2005 Mr. Foley (for himself, Mrs. Jones of Ohio, Mr. Shaw, Mr. Nussle, Mr. Lewis of Kentucky, Ms. Hart, Ms. Velázquez, Mr. Wilson of South Carolina, Mr. Gary G. Miller of California, Mr. Feeney, and Mr. English of Pennsylvania) 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 reduce the depreciation recovery period for roof systems.

1.

Short title

This Act may be cited as the Realistic Roofing Tax Treatment Act of 2005.

2.

Depreciation recovery period for roof systems

(a)

20-Year recovery period

Subparagraph (F) of section 168(e)(3) of the Internal Revenue Code of 1986 (relating to classification of certain 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 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: (I)Any roof system.. (c)

Alternative system

The table contained in section 168(g)(3)(B) of such Code is amended by striking the last item and inserting the following new items: (F)(i)25(F)(ii)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.