[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4126 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 4126

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            November 8, 2007

  Mr. Pascrell (for himself and Mr. Lewis of Kentucky) 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 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 ``Roofing Energy Efficiency Tax Act of 
2007''.

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' means--
                            ``(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 and is on 
                        nonresidential real property.''.
    (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 described in 
                        subsection (e)(3)(F)(ii).''.
    (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>