,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #bhgb  ,,in ,,the ,,house ,,of  
,,representatives  ,april #aj1          
#bjbe,mrs4 ,miller of ,west ,virginia   
7for herself and ,mr4 ,schneider7       
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    
require adjusted financial statement    
income to be reduced by the amount of   
certain deductions relating to repair   
and maintenance of certain public       
utility property4  #a4 ,short title     
,this ,act may be cited as the ,repair  
,expenditures ,support ,infrastructure1 
,labor ,investment1 ,energy ,needs1 and 
,creates ,equity ,act of #bjbe or the   
,,resilience ,act of #bjbe4  #b4        
,reduction of adjusted financial        
statement income with respect to        
applicable public utility repair and    
maintenance of public utility property  
7a7 ,in general ,section #ef;,a7c77#ac7 
of the ,internal ,revenue ,code of #aihf

 is amended to read as follows3  7#ac7  
,depreciation  7,a7 ,in general         
,adjusted financial statement income    
shall be-- 7i7 reduced by--  7,i7       
depreciation deductions allowed under   
section #afg with respect to property to
 which section #afh applies to the      
extent of the amount allowed as         
deductions in computing taxable income  
for the taxable year1 and  7,,ii7       
applicable public utility repair and    
maintenance deductions allowed under    
section #afb with respect to property to
 which section #afh applies to the      
extent of the amount allowed as         
deductions in computing taxable income  
for the taxable year1 and  7ii7         
appropriately adjusted-- 7,i7 to        
disregard any amount of depreciation    
expense that is taken into account on   
the taxpayer's applicable financial     
statement with respect to such property1
 and  7,,ii7 to take into account any   
other item specified by the ,secretary  
in order to provide that such property  

is accounted for in the same manner as  
it is accounted for under this chapter4 
7,b7 ,applicable public utility repair  
and maintenance deductions ,for purposes
 of this paragraph1 the term applicable 
public utility repair and maintenance   
deductions means repair and maintenance 
deductions allowed to a taxpayer with   
respect to expenditures which are--  7i7
 incurred by such taxpayer with respect 
to any property described in section    
#afh7;i77#aj7 which is owned by such    
taxpayer1 and  7ii7 taken into account  
as a depreciation expense on the        
taxpayer's applicable financial         
statement with respect to such property4
  4  7b7 ,effective date ,the amendments
 made by this section shall apply to    
taxable years beginning after ,december 
#ca1 #bjbd4