I 111th CONGRESS 2d Session H. R. 5314 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.

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.