S. 621

A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for the depreciation of certain leasehold improvements.

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II

109th CONGRESS

1st Session

S. 621

IN THE SENATE OF THE UNITED STATES

March 15, 2005

Mr. Conrad (for himself and Mr. Kyl) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for the depreciation of certain leasehold improvements.

1.

Permanent extension of 15-year recovery period for depreciation of certain leasehold improvements

Section 168(e)(3)(E)(iv) of the Internal Revenue Code of 1986 (defining 15-year property) is amended by striking before January 1, 2006.