S.Amdt. 153

SA 153. Mr. KYL submitted an amendment intended to be proposed to
amendment SA 98 proposed by Mr. Inouye (for himself and Mr. Baucus) to
the bill H.R. 1, making supplemental appropriations for job
preservation and creation, infrastructure investment, energy efficiency
and science, assistance to the unemployed, and State and local fiscal
stabilization, for fiscal year ending September 30, 2009, and for other
purposes; which was ordered to lie on the table; as follows:

On page 477, strike line 18 and insert the following:
(d) 100 Percent Expensing for Property Acquired in 2009.--
Section 168(k) is amended by adding at the end the following
new paragraph:
``(5) Expensing of property acquired in 2009.--
``(A) In general.--The cost of any qualified expensing
property shall be treated as an expense which is not
chargeable to a capital account and shall be allowed as a
deduction in the taxable year in which such property is
placed in service.
``(B) Qualified expensing property.--For purposes of this
paragraph, the term `qualified expensing property' means
qualified property, as defined in paragraph (2), determined
by substituting `December 31, 2008' for `December 31, 2007'
each place it appears therein.''.
(e) Effective Dates.--
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