,,ii  #aafth ,,congress  #ast ,session  
,s4 #bihd  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,december #e1  
#bjai,mr4 ,thune 7for himself and ,mr4  
,isakson7 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 allow for certain           
residential rental property to be       
depreciated over a #cj-year period4  #a4
 ,short title ,this ,act may be cited as
 the ,multifamily ,depreciation ,parity 
,act of #bjai4  #b4 ,depreciation of    
certain residential rental property over
 #cj-year period ,section #acbjd7;b7 of 
,public ,law #aae-ig is amended-- 7#a7  
in paragraph 7#a71 by striking paragraph
 7#b7 and inserting paragraphs 7#b7 and 
7#c72 and  7#b7 by adding at the end the
 following3  7#c7 ,certain residential  
rental property ,in the case of any     
residential rental property--  7,a7     
which was placed in service before      
,january #a1 #bjah1  7,b7 which is held 

by an electing real property trade or   
business 7as defined in section         
#afc7;j77#g77;,b7 of the ,internal      
,revenue ,code of #aihf71 and  7,c7 for 
which subparagraph 7,a71 7,b71 7,c71    
7,d71 7,e71 or 7,g7 of section          
#afh7;g77#a7 of the ,internal ,revenue  
,code of #aihf did not apply prior to   
such date1  the amendments made by      
subsection 7a77#c77;,c7 shall apply to  
taxable years beginning after ,december 
#ca1 #bjag4  4