To amend the Internal Revenue Code of 1986 to establish a 2-year recovery period for depreciation of computers and other technological equipment, a 24-month useful life for depreciation of computer software, and a 7-year useful life for depreciation of certain auction-acquired telecommunications licenses.

Summary

Amends the Internal Revenue Code to establish a two year recovery period for depreciation of computers and other technological equipment. Reduces the recovery period from five to two years under the alternative depreciation system for certain property ( tax-exempt use property, etc.). Reduces the useful life for depreciation of computer software from 36 to 24 months. Establishes a seven year useful life for depreciation of certain auction-acquired telecommunications licences.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 October 2001

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• Introduced in House (PDF)

  Introduced in House · EN · 2 October 2001

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• Introduced in House

  summary · EN · 2 October 2001

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