[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 2202 Introduced in Senate (IS)]

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114th CONGRESS
  1st Session
                                S. 2202

  To amend the Internal Revenue Code of 1986 to treat certain farming 
  business machinery and equipment as 5-year property for purposes of 
                             depreciation.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            October 22, 2015

 Ms. Klobuchar (for herself, Mr. Roberts, Mr. Schumer, and Mr. Tester) 
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 certain farming 
  business machinery and equipment as 5-year property for purposes of 
                             depreciation.

    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 ``Agriculture Equipment and Machinery 
Depreciation Act''.

SEC. 2. CERTAIN FARMING BUSINESS MACHINERY AND EQUIPMENT TREATED AS 5-
              YEAR PROPERTY.

    (a) In General.--Clause (vii) of section 168(e)(3)(B) of the 
Internal Revenue Code of 1986 is amended by striking ``the original use 
of which commences with the taxpayer after December 31, 2008, and which 
is placed in service before January 1, 2010'' and inserting ``the 
original use of which commences with the taxpayer after the date of the 
enactment of the Agriculture Equipment and Machinery Depreciation 
Act''.
    (b) Effective Date.--The amendments made by this section shall 
apply to property placed in service after the date of the enactment of 
this Act.
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