[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5314 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5314

    To amend the Internal Revenue Code of 1986 to provide a 15-year 
    recovery period for nonresidential real property in rural areas.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 13, 2010

  Mr. Smith of Nebraska (for himself and Mr. Marchant) 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 nonresidential real property in rural areas.

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

SECTION 1. 15-YEAR RECOVERY PERIOD FOR NONRESIDENTIAL REAL PROPERTY IN 
              RURAL AREAS.

    (a) In General.--Subparagraph (E) of section 168(e)(3) of the 
Internal Revenue Code of 1986 (relating to 15-year property) is amended 
by striking ``and'' at the end of clause (viii), by striking the period 
at the end of clause (ix) and inserting ``, and'', and by adding at the 
end the following new clause:
                            ``(x) any nonresidential real property 
                        placed in service in a rural area (as defined 
                        in section 1393(a)(2)).''.
    (b) Effective Date.--The amendment made by this section shall apply 
to property placed in service after the date of the enactment of this 
Act.
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