,,ii  #aadth ,,congress  #ast ,session  
,s4 #afff  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #bd1     
#bjae,ms4 ,stabenow 7for herself1 ,mr4  
,roberts1 ,mr4 ,brown1 and ,mr4 ,blunt7 
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,finance  ,a ,,bill  ,to  
amend the ,internal ,revenue ,code of   
#aihf to increase the limitation on the 
election to accelerate the ,,amt credit 
in lieu of bonus depreciation for #bjae 
and #bjaf1 and for other purposes4  #a4 
,extension of bonus depreciation  7a7   
,in general ,paragraph 7#b7 of section  
#afh7k7 of the ,internal ,revenue ,code 
of #aihf is amended--  7#a7 by striking 
,january #a1 #bjaf in subparagraph      
7,a77iv7 and inserting ,january #a1     
#bjah1 and  7#b7 by striking ,january   
#a1 #bjae each place it appears and     
inserting ,january #a1 #bjag4  7b7      
,special rule for ,federal long-,term   
contracts ,clause 7ii7 of section       
#dfj7;c77#f77;,b7 of the ,internal      

,revenue ,code of #aihf is amended by   
striking ,january #a1 #bjae 7,january   
#a1 #bjaf and inserting ,january #a1    
#bjag 7,january #a1 #bjah4  7c7         
,conforming ,amendments  7#a7 ,the      
heading for subsection 7k7 of section   
#afh of the ,internal ,revenue ,code of 
#aihf is amended by striking ,january   
#a1 #bjae and inserting ,january #a1    
#bjag4  7#b7 ,the heading for clause    
7ii7 of section #afh7k77#b77;,b7 of such
 ,code is amended by striking           
,pre-,january #a1 #bjae and inserting   
,pre-,january #a1 #bjag4  7#c7 ,section 
#afh7k77#d77;,d77iii77,,ii7 of such     
,code is amended by striking ,january   
#a1 #bjae and inserting ,january #a1    
#bjag4  7#d7 ,section #afh7l77#d7 of    
such ,code is amended by striking and at
 the end of subparagraph 7,a71 by       
redesignating subparagraph 7,b7 as      
subparagraph 7,c71 and by inserting     
after subparagraph 7,a7 the following   
new subparagraph3  7,b7 by substituting 
,january #a1 #bjae for ,january #a1     

#bjag in clause 7i7 thereof1 and  4     
7#e7 ,clause 7ii7 of section            
#afh7n77#b77;,c7 of such ,code is       
amended by striking ,january #a1 #bjae  
and inserting ,january #a1 #bjag4  7#f7 
,subparagraph 7,d7 of section           
#adjj,l7b77#b7 of such ,code is amended 
by striking ,january #a1 #bjae and      
inserting ,january #a1 #bjag4  7#g7     
,subparagraph 7,b7 of section           
#adjj,n7d77#c7 of such ,code is amended 
by striking ,january #a1 #bjae and      
inserting ,january #a1 #bjag4  7d7      
,election ,to ,accelerate the ,,amt     
,credit in ,lieu of ,bonus ,depreciation
 ,paragraph 7#d7 of section #afh7k7 of  
such ,code is amended by adding at the  
end the following new subparagraph3     
7,l7 ,special rules for round #e        
extension property  7i7 ,in general ,in 
the case of any round #e extension      
property1 in applying this paragraph to 
any taxpayer1 the limitation described  
in subparagraph 7,b77i7 and the business
 credit increase amount under           

subparagraph 7,e77iii7 thereof shall not
 apply1 and the bonus depreciation      
amount1 maximum amount1 and maximum     
increase amount--  7,i7 shall be        
computed separately from amounts        
computed with respect to eligible       
qualified property which is not round #e
 extension property1 and  7,,ii7 shall  
be computed separately with respect to  
round #e extension property placed in   
service before ,january #a1 #bjaf       
7,january #a1 #bjag1 in the case of     
property described in subparagraph 7,b7 
or 7,c7 of paragraph 7#b77 and with     
respect to other round #e extension     
property4  7ii7 ,election  7,i7 ,a      
taxpayer who has an election in effect  
under this paragraph for round #d       
extension property shall be treated as  
having an election in effect for round  
#e extension property unless the        
taxpayer elects to not have this        
paragraph apply to round #e extension   
property4  7,,ii7 ,a taxpayer who does  
not have an election in effect under    

this paragraph for round #d extension   
property may elect to have this         
paragraph apply to round #e extension   
property4  7iii7 ,round #e extension    
property ,for purposes of this          
subparagraph1 the term round #e         
extension property means property which 
is eligible qualified property solely by
 reason of the extension of the         
application of the special allowance    
under paragraph 7#a7 pursuant to the    
amendments made by section #a of the    
,act entitled an ,act to amend the      
,internal ,revenue ,code of #aihf to    
increase the limitation on the election 
to accelerate the ,,amt credit in lieu  
of bonus depreciation for #bjae and     
#bjaf1 and for other purposes 7and the  
application of such extension to this   
paragraph pursuant to the amendment made
 by section #a7;d7 of such ,act74  7iv7 
,special maximum increase amount ,in the
 case of round #e extension property    
placed in service by a corporation1     
subparagraph 7,c77iii7 shall not apply  

and the term maximum increase amount    
shall mean an amount equal to the lesser
 of--  7,i7 #ej percent of the minimum  
tax credit under section #ec7;b7 for the
 first taxable year ending after        
,december #ca1 #bjad1 or  7,,ii7 the    
minimum tax credit under section #ec7;b7
 for such taxable year determined by    
taking into account only the adjusted   
net minimum tax for taxable years ending
 before ,january #a1 #bjae 7determined  
by treating credits as allowed on a     
first-in1 first-out basis74  4  7e7     
,effective date ,the amendments made by 
this section shall apply to property    
placed in service after ,december #ca1  
#bjad1 in taxable years ending after    
such date4