[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 922 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                 S. 922

To amend the Internal Revenue Code of 1986 to modify the term ``5-year 
                              property''.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 29, 2009

 Ms. Murkowski 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 modify the term ``5-year 
                              property''.

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

SECTION 1. 5-YEAR ACCELERATED DEPRECIATION PERIOD FOR EQUIPMENT WHICH 
              PRODUCES ELECTRICITY FROM MARINE RENEWABLES.

    (a) In General.--Subclause (III) of section 168(e)(3)(B)(vi) of the 
Internal Revenue Code of 1986 is amended to read as follows:
                                    ``(III) is described in section 
                                45(d)(11) (without regard to any placed 
                                in service date) and converts marine 
                                and hydrokinetic renewable energy (as 
                                defined in section 45(c)(10)) into 
                                useable energy, and''.
    (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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