To amend the Internal Revenue Code of 1986 to provide a 15-year recovery period for property used in the transmission or distribution of electricity for sale.
Last action on May 4, 2007Sponsor introductory remarks on measure. (CR E957-958)
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Summary
Amends the Internal Revenue Code to allow a 15-year recovery period for the depreciation of: (1) certain property used in the transmission or distribution of electricity for sale and which is originally placed in service after enactment of this Act; and (2) initial clearing and grading land improvements with respect to any electric utility transmission and distribution plant.
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