I 111th CONGRESS 1st Session H. R. 1113 IN THE HOUSE OF REPRESENTATIVES February 23, 2009 Mr. Rehberg 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 provide a 15-year recovery period for property used in the transmission or distribution of electricity for sale.

1.

15-year recovery period for property used in the transmission or distribution of electricity for sale

(a)

In general

Subparagraph (E) of section 168(e)(3) of the Internal Revenue Code of 1986 is amended by striking clause (vii), by redesignating clauses (viii) and (ix) as clauses (ix) and (x), respectively, and by inserting after clause (vi) the following new clauses: (vii)any section 1245 property (as defined in section 1245(a)(3))— (I)used in the transmission at 69 or more kilovolts of electricity for sale and the original use of which commences with the taxpayer after April 11, 2005, or (II)used in the transmission or distribution of electricity for sale and which is originally placed in service after the date of the enactment of this subclause, (viii)initial clearing and grading land improvements with respect to any electric utility transmission and distribution plant, . (b)

Conforming amendments

(1)Paragraph (3) of section 168(e) of such Code is amended by striking subparagraph (F). (2)The table contained in section 168(g)(3)(B) of such Code is amended by striking the items relating to subparagraphs (E)(viii), (E)(ix), and (F) and inserting the following new items: (E)(viii)25  (E)(ix)35 (E)(x)39 . (c)

Effective date

The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.