II 109th CONGRESS 1st Session S. 1200 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.

1.

Short title

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

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.