To amend the Internal Revenue Code of 1986 to allow electric utility companies to expense the cost of replacing above-ground electric transmission lines with underground electric transmission lines.
Last action on Nov 9, 2005Referred to the House Committee on Ways and Means.
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Summary
Amends the Internal Revenue Code to allow a qualified public electric utility to elect to expense (i.e., deduct all costs in the current taxable year) the cost of installing an underground electric transmission line to replace an aboveground line.
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