II 111th CONGRESS 1st Session S. 1461 IN THE SENATE OF THE UNITED STATES July 16, 2009 Mrs. Boxer (for herself, Mr. Nelson of Florida, Mr. Wyden, Mrs. Feinstein, and Mrs. Gillibrand) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to treat trees and vines producing fruit, nuts, or other crops as placed in service in the year in which it is planted for purposes of special allowance for depreciation.

1.

Placed in service date for trees and vines for purposes of special allowance for depreciation

(a)

In general

Subsection (k) of section 168 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (5)

Special rule for certain trees and vines

For purposes of this subsection, in the case of any qualified property which is a tree or vine producing fruit, nuts, or other crops, such property shall be treated as placed in service in the year in which it is planted. . (b)

Effective date

The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 2008.