H.R. 3948

To amend the Internal Revenue Code of 1986 to extend for one year the 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements.

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I

113th CONGRESS

2d Session

H. R. 3948

IN THE HOUSE OF REPRESENTATIVES

January 28, 2014

Mr. Grayson 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 for one year the 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements.

1.

Extension of 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements

(a)

In general

Clauses (iv), (v), and (ix) of section 168(e)(3)(E) of the Internal Revenue Code of 1986 are each amended by striking January 1, 2014 and inserting January 1, 2015.

(b)

Effective date

The amendments made by this section shall apply to property placed in service after December 31, 2013.