,i  #aadth ,,congress  #ast ,session    
,h4 ,r4 #cbac  ,,in ,,the ,,house ,,of  
,,representatives  ,july #bc1 #bjae ,mr4
 ,williams introduced the following     
bill2 which was referred to the         
,committee on ,ways and ,means  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to make #ajj percent    
bonus depreciation permanent4  #a4      
,short title ,this ,act may be cited as 
the ,fixed ,asset ,relief ,act of #bjae4
  #b4 ,bonus depreciation increased to  
#ajj percent and made permanent  7a7    
,increase ,section #afh7k77#a77;,a7 of  
the ,internal ,revenue ,code of #aihf is
 amended by striking #ej percent and    
inserting #ajj percent4  7b7 ,made      
permanent ,section #afh7k77#b7 of the   
,internal ,revenue ,code of #aihf is    
amended to read as follows3  7#b7       
,qualified property ,for purposes of    
this subsection--  7,a7 ,in general ,the
 term qualified property means          
property-- 7i7 7,i7 to which this       
section applies which has a recovery    

period of #bj years or less1  7,,ii7    
which is computer software 7as defined  
in section #afg7;f77#a77;,b77 for which 
a deduction is allowable under section  
#afg7;a7 without regard to this         
subsection1  7,,iii7 which is water     
utility property1 or  7,,iv7 which is   
qualified leasehold improvement         
property1 and  7ii7 the original use of 
which commences with the taxpayer4  7,b7
 ,exception for alternative depreciation
 property ,the term qualified property  
shall not include any property to which 
the alternative depreciation system     
under subsection 7g7 applies1           
determined--  7i7 without regard to     
paragraph 7#g7 of subsection 7g7        
7relating to election to have system    
apply71 and  7ii7 after application of  
section #bhj;,f7b7 7relating to listed  
property with limited business use74    
7,c7 ,special rules  7i7                
,sale-leasebacks ,for purposes of clause
 7ii7 and subparagraph 7,a77ii71 if     
property is-- 7,i7 originally placed in 

service by a person1 and  7,,ii7 sold   
and leased back by such person within #c
 months after the date such property was
 originally placed in service1  such    
property shall be treated as originally 
placed in service not earlier than the  
date on which such property is used     
under the leaseback referred to in      
subclause 7,,ii74  7ii7 ,syndication    
,for purposes of subparagraph 7,a77ii71 
if-- 7,i7 property is originally placed 
in service by the lessor of such        
property1  7,,ii7 such property is sold 
by such lessor or any subsequent        
purchaser within #c months after the    
date such property was originally placed
 in service 7or1 in the case of multiple
 units of property subject to the same  
lease1 within #c months after the date  
the final unit is placed in service1 so 
long as the period between the time the 
first unit is placed in service and the 
time the last unit is placed in service 
does not exceed #ab months71 and        
7,,iii7 the user of such property after 

the last sale during such #c-month      
period remains the same as when such    
property was originally placed in       
service1  such property shall be treated
 as originally placed in service not    
earlier than the date of such last sale4
  7,d7 ,coordination with section       
#bhj;,f ,for purposes of section        
#bhj;,f-- 7i7 ,automobiles ,in the case 
of a passenger automobile 7as defined in
 section #bhj;,f7d77#e77 which is       
qualified property1 the ,secretary shall
 increase the limitation under section  
#bhj;,f7a77#a77;,a77i7 by #h1jjj4  7ii7 
,listed property ,the deduction         
allowable under paragraph 7#a7 shall be 
taken into account in computing any     
recapture amount under section          
#bhj;,f7b77#b74  7iii7 ,inflation       
adjustment ,in the case of any taxable  
year beginning in a calendar year after 
#bjae1 the #h1jjj amount in clause 7i7  
shall be increased by an amount equal   
to--  7,i7 such dollar amount1          
multiplied by  7,,ii7 the automobile    

price inflation adjustment determined   
under section #bhj;,f7d77#g77;,b77i7 for
 the calendar year in which such taxable
 year begins by substituting #bjad for  
#aihg in subclause 7,,ii7 thereof4  ,if 
any increase under the preceding        
sentence is not a multiple of #ajj1 such
 increase shall be rounded to the       
nearest multiple of #ajj4  7,e7         
,deduction allowed in computing minimum 
tax ,for purposes of determining        
alternative minimum taxable income under
 section #ee1 the deduction under       
section #afg for qualified property     
shall be determined without regard to   
any adjustment under section #ef4  4    
7c7 ,effective date ,the amendments made
 by this section shall apply to property
 placed in service after ,december #ca1 
#bjad4