HR 1265

112th CONGRESS
1st Session

H. R. 1265

To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property.

IN THE HOUSE OF REPRESENTATIVES

March 30, 2011

Mr. GERLACH (for himself and Mr. NEAL) 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 permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property.

SECTION 1. PERMANENT EXTENSION OF TREATMENT OF QUALIFIED LEASEHOLD IMPROVEMENT PROPERTY AS 15-YEAR PROPERTY FOR PURPOSES OF DEPRECIATION DEDUCTION.

SEC. 2. PERMANENT EXTENSION OF TREATMENT OF QUALIFIED RESTAURANT PROPERTY AS 15-YEAR PROPERTY FOR PURPOSES OF DEPRECIATION DEDUCTION.

SEC. 3. PERMANENT EXTENSION OF TREATMENT OF QUALIFIED RETAIL IMPROVEMENT PROPERTY AS 15-YEAR PROPERTY FOR PURPOSES OF DEPRECIATION DEDUCTION.

END