A bill to amend the Internal Revenue Code of 1986 to provide a shorter recovery period for the depreciation of certain lease hold improvements

Summary

Amends the Internal Revenue Code to reduce from 39 years (life of the building) to ten years the recovery period for the depreciation (by straight line method) of any qualified leasehold improvement to an interior portion of a building which is nonresidential real property if: (1) such improvement is made under or pursuant to a lease (including a commitment to lease) by the lessee (or any sublessee) or the lessor of such portion; (2) such portion is to be occupied exclusively by the lessee (or any sublessee); and (3) such improvement is placed in service more than three years after the date the building was first placed in service. Excludes from the meaning of qualified leasehold improvement any improvement for which the expenditure is attributable to: (1) enlargement of the building; (2) any elevator or escalator; (3) any structural component benefitting a common area; and (4) the internal structural framework of the building.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 26 April 1999

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 26 April 1999

   Introduced

   Sponsor introductory remarks on measure. (CR S4190)

   Source: IntroReferral

3. 26 April 1999

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 26 April 1999 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 April 1999

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 April 1999

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 26 April 1999

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Conrad, Kent [D-ND] · D · Sponsor
• Sen. Mack, Connie, III [R-FL] · R · Sponsor
• Sen. Nickles, Don [R-OK] · R · Sponsor
• Sen. Robb, Charles S. [D-VA] · D · Sponsor
• Sen. Baucus, Max [D-MT] · D · Sponsor
• Sen. Breaux, John B. [D-LA] · D · Cosponsor
• Sen. Kerrey, J. Robert [D-NE] · D · Cosponsor
• Sen. Cochran, Thad [R-MS] · R · Cosponsor
• Sen. Torricelli, Robert G. [D-NJ] · D · Cosponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Cosponsor
• Sen. Dorgan, Byron L. [D-ND] · D · Cosponsor
• Sen. Coverdell, Paul [R-GA] · R · Cosponsor
• Sen. Johnson, Tim [D-SD] · D · Cosponsor
• Sen. Inhofe, James M. [R-OK] · R · Cosponsor
• Sen. Schumer, Charles E. [D-NY] · D · Cosponsor
• Sen. Murkowski, Frank H. [R-AK] · R · Cosponsor
• Sen. Bryan, Richard H. [D-NV] · D · Cosponsor
• Sen. Inouye, Daniel K. [D-HI] · D · Cosponsor
• Sen. Fitzgerald, Peter [R-IL] · R · Cosponsor
• · ssfi00 · Standing

Related records

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