[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3680 Introduced in House (IH)]







109th CONGRESS
  1st Session
                                H. R. 3680

   To amend the Internal Revenue Code of 1986 to increase and extend 
  temporary expensing for equipment used in refining of liquid fuels.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 7, 2005

   Mr. Camp 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 increase and extend 
  temporary expensing for equipment used in refining of liquid fuels.

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

SECTION 1. INCREASE AND EXTENSION OF TEMPORARY EXPENSING FOR EQUIPMENT 
              USED IN REFINING OF LIQUID FUELS.

    (a) 100 Percent Expensing.--Subsection (a) of section 179C of the 
Internal Revenue Code of 1986 is amended by striking ``50 percent'' and 
inserting ``100 percent''.
    (b) Extension of Period to Which Expensing Applies.--
            (1) In general.--Subparagraph (B) of section 179C(c)(1) of 
        such Code is amended by striking ``2012'' and inserting 
        ``2015''.
            (2) Construction requirement.--Subparagraph (F) of such 
        section is amended by striking ``2008'' each place it appears 
        and inserting ``2011''.
    (c) Effective Date.--The amendments made by this section shall take 
effect as if included in section 1323 of the Energy Policy Act of 2005.
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