[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 3513 Introduced in Senate (IS)]

111th CONGRESS
  2d Session
                                S. 3513

 To amend the Internal Revenue Code of 1986 to extend for one year the 
         special depreciation allowances for certain property.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 21, 2010

  Mr. Baucus (for himself and Mr. Grassley) 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 extend for one year the 
         special depreciation allowances for certain property.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Bonus Depreciation Extension to 
Create Jobs Act''.

SEC. 2. EXTENSION OF SPECIAL ALLOWANCE FOR CERTAIN PROPERTY.

    (a) In General.--Paragraph (2) of section 168(k) of the Internal 
Revenue Code of 1986 is amended--
            (1) by striking ``January 1, 2011'' in subparagraph (A)(iv) 
        and inserting ``January 1, 2012'', and
            (2) by striking ``January 1, 2010'' each place it appears 
        and inserting ``January 1, 2011''.
    (b) Conforming Amendments.--
            (1) The heading for subsection (k) of section 168 of such 
        Code is amended by striking ``January 1, 2010'' and inserting 
        ``January 1, 2011''.
            (2) The heading for clause (ii) of section 168(k)(2)(B) of 
        such Code is amended by striking ``Pre-january 1, 2010'' and 
        inserting ``Pre-january 1, 2011''.
            (3) Subparagraph (D) of section 168(k)(4) of such Code is 
        amended by striking ``and'' at the end of clause (ii), by 
        striking the period at the end of clause (iii) and inserting a 
        comma, and by adding at the end the following new clauses:
                            ``(iv) `January 1, 2011' shall be 
                        substituted for `January 1, 2012' in 
                        subparagraph (A)(iv) thereof, and
                            ``(v) `January 1, 2010' shall be 
                        substituted for `January 1, 2011' each place it 
                        appears in subparagraph (A) thereof.''.
            (4) Subparagraph (B) of section 168(l)(5) of such Code is 
        amended by striking ``January 1, 2010'' and inserting ``January 
        1, 2011''.
            (5) Subparagraph (C) of section 168(n)(2) of such Code is 
        amended by striking ``January 1, 2010'' and inserting ``January 
        1, 2011''.
            (6) Subparagraph (D) of section 1400L(b)(2) of such Code is 
        amended by striking ``January 1, 2010'' and inserting ``January 
        1, 2011''.
            (7) Subparagraph (B) of section 1400N(d)(3) of such Code is 
        amended by striking ``January 1, 2010'' and inserting ``January 
        1, 2011''.
    (c) Effective Date.--The amendments made by this section shall 
apply to property placed in service after December 31, 2009.
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