,i  #aad? ,,congress  #b;d ,session  ,h4
 ,r4 #ehah  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #ad1 #bjaf,mr4  
,blum 7= himself1 ,mr4 ,gro?man1 & ,mr4 
,bi%op ( ,mi*igan7 introduc$ ! foll[+   
bill2 :i* 0 ref]r$ to ! ,committee on   
,ways & ,means  ,a ,,bill  ,to am5d !   
,int]nal ,rev5ue ,code ( #aihf to       
provide = exp5s+ ( prop]ty us$ to comply
 ) ,f$]al laws & regulations4  #a4 ,%ort
 title ,?is ,act may be cit$ z ! ,m&at$ 
,exp5ses ,tax ,relief ,act4  #b4 ,exp5s+
 ( prop]ty us$ to comply ) ,f$]al laws &
 regulations  7a7 ,9 g5]al ,"p ,,vi (   
sub*apt] ,b ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] section #agi;,e ! foll[+ new      
section3  #agi;,f4 ,election to exp5se  
prop]ty us$ to comply ) ,f$]al laws &   
regulations  7a7 ,9 g5]al ,a taxpay] may
 elect to treat ! co/ ( any ,f$]al      
compliance prop]ty z an exp5se :i* is n 
*>geable to capital acc\nt4 ,any co/ s  
treat$ %all be all[$ z a d$uction = !   
taxable ye> 9 :i* ! ,f$]al compliance   

prop]ty is plac$ 9 s]vice4  7b7 ,f$]al  
compliance prop]ty ,= purposes ( ?is    
section1 ! t]m ,f$]al compliance prop]ty
 means any prop]ty-- 7#a7 :i* is ( a "* 
) respect to :i* depreciation 7or       
amortization 9 lieu ( depreciation7 is  
all[able1 &  7#b7 :i* is us$ by !       
taxpay] to comply ) any ,f$]al law or   
regulation4  7c7 ,election  7#a7 ,9     
g5]al ,an election "u ?is section = any 
taxable ye> %all be made on ! taxpay]'s 
return ( ! tax impos$ by ?is *apt] = !  
taxable ye>4 ,su* election %all specify 
! ,f$]al compliance prop]ty to :i* !    
election applies & %all be made 9 su*   
mann] z ! ,secret>y may provide4  7#b7  
,election irrevocable ,any election made
 "u ?is section may n be revok$ except )
 ! cons5t ( ! ,secret>y4  4  7b7 ,con=m+
 am5dm5ts  7#a7 ,section                
#cab7k77#c77;,b7 ( su* ,code is am5d$ by
 /rik+ or #agi;,e ea* place x appe>s 9 !
 head+ & text & ins]t+ #agi;,e1 or      
#agi;,f4  7#b7 ,p>agraphs 7#b77;,c7 &   
7#c77;,c7 ( section #abde7;a7 ( su*     

,code are ea* am5d$ by ins]t+ #agi;,f1  
aft] #agi;,e14  7#c7 ,! table ( sections
 = "p ,,vi ( sub*apt] ,b ( *apt] #a (   
su* ,code is am5d$ by ins]t+ aft] ! item
 relat+ to section #agi;,e ! foll[+ new 
item3  ,sec4 #agi;,f4 ,election to      
exp5se prop]ty us$ to comply ) ,f$]al   
laws & regulations4  4  7c7 ,effective  
date ,! am5dm5ts made by ?is section    
%all apply to am\nts paid or incurr$    
aft] ! date ( ! enactm5t ( ?is ,act4