← Back to Bills
H.R. 1379House109th Congress (2005-2007)In Committee

To amend the Internal Revenue Code of 1986 to treat electric transmission property as 15-year property for depreciation purposes.

Sponsored by Phil EnglishRep. Phil English (R-PA)
Introduced March 17, 2005

Legislative Activity

Stay on top of the latest movement without scrolling through every action

1 earlier action
HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

March 17, 2005

View full timeline
HouseIntro Referral

Introduced in House

March 17, 2005

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

March 17, 2005

Bill Text

Latest available legislative text

Reading Mode
Latest
Raw Text PDF XML
Introduced in HouseIssued March 17, 2005

I

109th CONGRESS

1st Session

H. R. 1379

IN THE HOUSE OF REPRESENTATIVES

March 17, 2005

Mr. English of Pennsylvania (for himself, Mr. McCrery, Mr. Murphy, Mr. Foley, Mr. Herger, Mr. Shaw, Mr. Green of Wisconsin, Ms. Baldwin, Mr. Peterson of Pennsylvania, and Mr. Sam Johnson of Texas) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to treat electric transmission property as 15-year property for depreciation purposes.

1.

Electric transmission property treated as 15-year property

(a)

In general

Subparagraph (E) of section 168(e)(3) of the Internal Revenue Code of 1986 (relating to classification of certain property) is amended by striking and at the end of clause (v), by striking the period at the end of clause (vi) and inserting , and, and by adding at the end the following new clause:

(vii)

any section 1245 property (as defined in section 1245(a)(3)) used in the transmission at 69 or more kilovolts of electricity for sale the original use of which commences with the taxpayer after the date of the enactment of this clause.

.

(b)

Alternative system

The table contained in section 168(g)(3)(B) of such Code is amended by inserting after the item relating to subparagraph (E)(vi) the following:

(E)(vii)30

.

(c)

Effective date

The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act, in taxable years ending after such date.