,i  #aac? ,,congress  #a/ ,session  ,h4 
,r4 #djh  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,janu>y #bc1 #bjac    
,mr4 ,sessions introduc$ ! foll[+ bill2 
:i* 0 ref]r$ to ! ,committee on ,ways & 
,means  ,a ,,bill  ,to am5d ! ,int]nal  
,rev5ue ,code ( #aihf to repeal c]ta9   
limitations on ! exp5s+ ( section #agi  
prop]ty1 to all[ taxpay]s to elect %ort]
 recov]y p]iods = purposes ( det]m9+ !  
d$uction = depreciation1 & = o!r        
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,exp5s+ ,prop]ty ,exp&s our
 ,nation's ,/rong ,economy ,act ( #bjac 
or z ! ,,exp5se ,act ( #bjac4  #b4      
,repeal ( c]ta9 limitations on ! exp5s+ 
( section #agi prop]ty  7a7 ,9 g5]al    
,section #agi ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$ by /rik+ subsections  
7b7 & 7e7 & by r$esignat+ subsections   
7c71 7d71 & 7f7 z subsections 7b71 7c71 
& 7d71 respectively4  7b7 ,con=m+       
am5dm5ts  7#a7 ,subsection 7c7 ( section
 #agi ( su* ,code1 z r$esignat$ by      
subsection 7a71 is am5d$ by /rik+       

p>agraphs 7#f7 & 7#h71 & by r$esignat+  
p>agraphs 7#g71 7#i71 & 7#aj7 z         
p>agraphs 7#f71 7#g71 & 7#h71           
respectively4  7#b7 ,p>agraph 7#f7 (    
section #agi7;c7 ( su* ,code1 z         
r$esignat$ by p>agraph 7#a7 & subsection
 7a71 is am5d$ by /rik+ p>agraphs 7#b7 &
 7#f7 & ins]t+ p>agraph 7#b74  7#c7     
,subsection 7d7 ( section #agi ( su*    
,code1 z r$esignat$ by subsection 7a71  
is am5d$--  7,a7 by /rik+ 9 #bjaj1      
#bjaa1 #bjab1 or #bjac 9 p>agraph 7#a71 
&  7,b7 by /rik+ p>agraphs 7#c7 & 7#d74 
7#d7 ,sections #db7;d77#b77;,b77i71     
#acig;,d7d77#a71 #adjj;,b7b77#d77;,a77i7
 & #adjj;,f7b77#d77;,a77i7 ( su* ,code  
are ea* am5d$ by /rik+ section          
#agi7;d77#b7 & ins]t+ section           
#agi7;c77#b74  7#e7 ,subclause 7,i7 (   
section #db7;d77#b77;,d77iii7 ( su*     
,code is am5d$--  7,a7 by /rik+ section 
#agi7;d7 & ins]t+ section #agi7;c71 &   
7,b7 by /rik+ section #agi7;d77#g7 &    
ins]t+ section #agi7;c77#f74  7#f7 7,a7 
,subp>t ,b ( "p ,,iii ( sub*apt] ,u (   

*apt] #a ( su* ,code is h]eby repeal$4  
7,b7 ,! table ( subp>ts = su* "p ,,iii  
is am5d$ by /rik+ ! item relat+ to      
subp>t ,b4  7#g7 7,a7 ,"p ,,iii (       
sub*apt] ,x ( *apt] #a ( su* ,code is   
am5d$ by /rik+ section #adjj;,j4  7,b7  
,! table ( sections = su* "p is am5d$ by
 /rik+ ! item relat+ to section         
#adjj;,j4  7,c7 ,p>agraph 7#c7 ( section
 #adjj;,e7b7 ( su* ,code is am5d$ by    
/rik+ sections #adjj;,f & #adjj;,j &    
ins]t+ section #adjj;,f4  7#h7 ,clause  
7iv7 ( section #adjj,l7b77#b77;,a7 ( su*
 ,code is am5d$ by /rik+ section        
#agi7;d7 & ins]t+ section #agi7;c74     
7#i7 ,section #adjj,l ( su* ,code is    
am5d$ by /rik+ subsection 7f74  7c7     
,effective date ,! am5dm5ts made by ?is 
section %all apply to prop]ty plac$ 9   
s]vice dur+ taxable ye>s end+ on or aft]
 ! date ( ! enactm5t ( ?is ,act4  #c4   
,election ( %ort] recov]y p]iod =       
purpose ( det]m9+ depreciation d$uction 
7a7 ,9 g5]al ,section #afh ( ! ,int]nal 
,rev5ue ,code ( #aihf is am5d$ by add+  

at ! end ! foll[+ new subsection3  7o7  
,election ( %ort] recov]y p]iod  7#a7 ,9
 g5]al ,not)/&+ subsections 7c71 7e71   
7g71 & 7j71 = purposes ( subsection 7a71
 ! applicable recov]y p]iod = any       
prop]ty plac$ 9 s]vice dur+ a taxable   
ye> end+ on or aft] ! date ( ! enactm5t 
( ?is subsection %all n exce$ any p]iod 
( two or m ye>s elect$ by ! taxpay] )   
respect to su* prop]ty4  7#b7 ,election 
,an election made "u ?is subsection %all
 be made at su* "t & 9 su* =m & mann] z 
! ,secret>y may require4 ,an election "u
 ?is subsection1 once made1 %all apply  
to ! taxable ye> = :i* made & all       
subsequ5t taxable ye>s unless revok$ ) !
 cons5t ( ! ,secret>y4  7#c7 ,transition
 rule ,9 ! case ( any prop]ty plac$ 9   
s]vice dur+ a taxable ye> end+ be=e !   
date ( ! enactm5t ( ?is subsection1     
p>agraph 7#a7 %all apply ) respect to ! 
adju/$ basis ( su* prop]ty 9 ! same     
mann] z if su* prop]ty 7) su* adju/$    
basis7 7 plac$ 9 s]vice on ! fir/ day ( 
! taxable ye> :i* includes ! date ( !   

enactm5t ( ?is subsection4 ,!           
application ( ?is p>agraph %all n be    
treat$ z a *ange 9 me?od ( acc\nt+ =    
purposes ( section #dha4  4  7b7        
,effective date ,! am5dm5t made by ?is  
section %all apply to prop]ty plac$ 9   
s]vice be=e1 on1 or aft] ! date ( !     
enactm5t ( ?is ,act4