,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #bhgb  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,april #aj1 #bjbe,mrs4
 ,mill] ( ,we/ ,virg9ia 7= h]self & ,mr4
 ,s*neid]7 introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,ways &     
,means  ,a ,,bill  ,to am5d ! ,int]nal  
,rev5ue ,code ( #aihf to require adju/$ 
f9ancial /atem5t income to be r$uc$ by !
 am\nt ( c]ta9 d$uctions relat+ to      
repair & ma9t5ance ( c]ta9 public       
utility prop]ty4  #a4 ,%ort title ,?is  
,act may be cit$ z ! ,repair            
,exp5ditures ,support ,infra/ructure1   
,labor ,inve/m5t1 ,en]gy ,ne$s1 &       
,creates ,equity ,act ( #bjbe or !      
,,resili5ce ,act ( #bjbe4  #b4 ,r$uction
 ( adju/$ f9ancial /atem5t income )     
respect to applicable public utility    
repair & ma9t5ance ( public utility     
prop]ty  7a7 ,9 g5]al ,section          
#ef;,a7c77#ac7 ( ! ,int]nal ,rev5ue     
,code ( #aihf is am5d$ to read z foll[s3
  7#ac7 ,depreciation  7,a7 ,9 g5]al    
,adju/$ f9ancial /atem5t income %all    

be-- 7i7 r$uc$ by--  7,i7 depreciation  
d$uctions all[$ "u section #afg )       
respect to prop]ty to :i* section #afh  
applies to ! ext5t ( ! am\nt all[$ z    
d$uctions 9 comput+ taxable income = !  
taxable ye>1 &  7,,ii7 applicable public
 utility repair & ma9t5ance d$uctions   
all[$ "u section #afb ) respect to      
prop]ty to :i* section #afh applies to !
 ext5t ( ! am\nt all[$ z d$uctions 9    
comput+ taxable income = ! taxable ye>1 
&  7ii7 appropriately adju/$-- 7,i7 to  
disreg>d any am\nt ( depreciation exp5se
 t is tak5 into acc\nt on ! taxpay]'s   
applicable f9ancial /atem5t ) respect to
 su* prop]ty1 &  7,,ii7 to take into    
acc\nt any o!r item specifi$ by !       
,secret>y 9 ord] to provide t su*       
prop]ty is acc\nt$ = 9 ! same mann] z x 
is acc\nt$ = "u ?is *apt]4  7,b7        
,applicable public utility repair &     
ma9t5ance d$uctions ,= purposes ( ?is   
p>agraph1 ! t]m applicable public       
utility repair & ma9t5ance d$uctions    
means repair & ma9t5ance d$uctions all[$

 to a taxpay] ) respect to exp5ditures  
:i* are--  7i7 incurr$ by su* taxpay] ) 
respect to any prop]ty describ$ 9       
section #afh7;i77#aj7 :i* is own$ by su*
 taxpay]1 &  7ii7 tak5 into acc\nt z a  
depreciation exp5se on ! taxpay]'s      
applicable f9ancial /atem5t ) respect to
 su* prop]ty4  4  7b7 ,effective date ,!
 am5dm5ts made by ?is section %all apply
 to taxable ye>s beg9n+ aft] ,decemb]   
#ca1 #bjbd4