H.R. 212

Bonus Depreciation Extension Act of 2009

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I

111th CONGRESS

1st Session

H. R. 212

IN THE HOUSE OF REPRESENTATIVES

January 6, 2009

Mr. Wilson of South Carolina 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 extend bonus depreciation for 2 years.

1.

Short title

This Act may be cited as the Bonus Depreciation Extension Act of 2009.

2.

Two-year extension of bonus depreciation

(a)

In general

Paragraph (2) of section 168(k) of the Internal Revenue Code of 1986 is amended—

(1)

by striking January 1, 2010 and inserting January 1, 2012, and

(2)

by striking January 1, 2009 and inserting January 1, 2011.

(b)

New York Liberty Zone

The last sentence of section 1400L(b)(2)(A) of such Code is amended by striking December 31, 2006 (December 31, 2009 and inserting December 31, 2008 (December 31, 2011.

(c)

Conforming amendments

(1)

The heading for subsection (k) of section 168 of such Code is amended by striking January 1, 2009 and inserting January 1, 2011.

(2)

The heading for clause (ii) of section 168(k)(2)(B) of such Code is amended by striking pre-January 1, 2009 and inserting pre-January 1, 2011.

(3)

Section 168(l)(5)(B) of such Code is amended by striking January 1, 2009 and inserting January 1, 2011.

(4)

Subparagraph 1400N(d)(3) of such Code is amended by striking January 1, 2009 and inserting January 1, 2011.

(d)

Effective date

The amendments made by this section shall apply to property placed in service after December 31, 2009.