[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4012 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 4012

To amend the Internal Revenue Code of 1986 to provide a 5-year recovery 
  period for new nonresidential real property, and a 10-year recovery 
period for qualified leasehold improvement property, placed in service 
          after December 31, 2009, and before January 1, 2012.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            November 3, 2009

  Mr. Tiahrt 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 5-year recovery 
  period for new nonresidential real property, and a 10-year recovery 
period for qualified leasehold improvement property, placed in service 
          after December 31, 2009, and before January 1, 2012.

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

SECTION 1. TEMPORARY 5-YEAR RECOVERY PERIOD FOR NONRESIDENTIAL REAL 
              PROPERTY.

    (a) In General.--Subparagraph (B) of section 168(e)(3) of the 
Internal Revenue Code of 1986 is amended by striking ``and'' at the end 
of clause (vi), by striking the period at the end of clause (vii) and 
inserting ``, and'', and by inserting after clause (vii) the following 
new clause:
                            ``(viii) notwithstanding subsection (c), 
                        any nonresidential real property orginally 
                        placed in service before January 1, 2012.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to property placed in service after December 31, 2009.

SEC. 2. TEMPORARY 10-YEAR RECOVERY PERIOD FOR QUALIFIED LEASEHOLD 
              IMPROVEMENT PROPERTY.

    (a) In General.--Subparagraph (D) of section 168(e)(3) of the 
Internal Revenue Code of 1986 is amended by striking ``and'' at the end 
of clause (iii), by striking the period at the end of clause (iv) and 
inserting ``, and'', and by adding at the end the following new clause:
                            ``(v) any qualified leasehold improvement 
                        property placed in service before January 1, 
                        2012.''.
    (b) Effective Date.--The amendments made by this section shall 
apply to property placed in service after December 31, 2009.
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