[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 621 Introduced in Senate (IS)]







109th CONGRESS
  1st Session
                                 S. 621

 To amend the Internal Revenue Code of 1986 to permanently extend the 
   15-year recovery period for the depreciation of certain leasehold 
                             improvements.


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                   IN THE SENATE OF THE UNITED STATES

                             March 15, 2005

  Mr. Conrad (for himself and Mr. Kyl) introduced the following bill; 
     which was read twice and referred to the Committee on Finance

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to permanently extend the 
   15-year recovery period for the depreciation of certain leasehold 
                             improvements.

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

SECTION 1. PERMANENT EXTENSION OF 15-YEAR RECOVERY PERIOD FOR 
              DEPRECIATION OF CERTAIN LEASEHOLD IMPROVEMENTS.

    Section 168(e)(3)(E)(iv) of the Internal Revenue Code of 1986 
(defining 15-year property) is amended by striking ``before January 1, 
2006''.
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