A bill to amend the Internal Revenue Code of 1986 to provide a special depreciation allowance and recovery period for noncommercial aircraft property.

Summary

Amends the Internal Revenue Code to allow: (1) increased depreciation of qualified noncommercial aircraft property placed in service in 2010 or 2011; and (2) a three-year recovery period for the depreciation of such property placed in service before 2015. Defines "qualified noncommercial aircraft property" as any aircraft that is not used in the trade or business of transporting persons or property and that is first used after 2009. Allows such increased depreciation as an offset against the alternative minimum tax.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 3 November 2009

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 3 November 2009

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• Introduced in Senate

  summary · EN · 3 November 2009

  Open at official source

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