[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 165 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 165

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 4, 2007

  Mr. Jindal 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.

    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 2007''.

SEC. 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.
                                 <all>