[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 1200 Introduced in Senate (IS)]







109th CONGRESS
  1st Session
                                S. 1200

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              June 8, 2005

 Mr. Bunning (for himself, Mr. Talent, Mr. Chambliss, Mr. DeMint, and 
   Mr. Lott) 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 certain 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 2005''.

SEC. 2. DEPRECIATION RECOVERY PERIOD FOR CERTAIN 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' includes--
                            ``(i) initial clearing and grading land 
                        improvements with respect to any electric 
                        utility transmission and distribution plant, 
                        and
                            ``(ii) any roof system which meets the 
                        requirements of Standard 90.1-2004 of the 
                        American Society of Heating, Refrigerating, and 
                        Air Conditioning Engineers.''.
    (b) Requirement To Use Straight Line Method.--Paragraph (3) of 
section 168(b) of the Internal Revenue Code of 1986 is amended by 
adding at the end the following new subparagraph:
                    ``(I) Any roof system described in subsection 
                (e)(3)(F)(ii).''.
    (c) Alternative System.--The table contained in section 
168(g)(3)(B) of the Internal Revenue Code of 1986 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.
                                 <all>