I 

111TH CONGRESS 

1ST SESSION H. R. 361 

To amend the Internal Revenue Code of 1986 to provide a 1-year extension 

of the increased expensing of certain depreciable business assets and 

the special depreciation allowance for certain business property. 

IN THE HOUSE OF REPRESENTATIVES 

JANUARY 9, 2009 

Mr. BRIGHT introduced the following bill; which was referred to the 

Committee on Ways and Means 

A BILL 

To amend the Internal Revenue Code of 1986 to provide 

a 1-year extension of the increased expensing of certain 

depreciable business assets and the special depreciation 

allowance for certain business property. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. EXTENSION OF INCREASE IN LIMITATION ON 

4 EXPENSING OF CERTAIN DEPRECIABLE BUSI5 NESS ASSETS. 

6 (a) IN GENERAL.—Paragraph (7) of section 179(b) 

7 of the Internal Revenue Code of 1986 is amended by inVerDate Nov 24 2008 00:53 Jan 12, 2009 Jkt 079200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H361.IH H361

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•HR 361 IH

1 serting ‘‘or 2009’’ after ‘‘2008’’ in the text and heading 

2 thereof. 

3 (b) EFFECTIVE DATE.—The amendments made by 

4 this section shall apply to taxable years beginning after 

5 December 31, 2008. 

6 SEC. 2. SPECIAL ALLOWANCE FOR CERTAIN PROPERTY AC7 QUIRED DURING 2009. 

8 (a) IN GENERAL.—Subsection (k) of section 168 of 

9 the Internal Revenue Code of 1986 is amended— 

10 (1) by striking ‘‘January 1, 2009’’ each place 

11 it appears in paragraphs (1), (2), and (3) and in12 serting ‘‘January 1, 2010’’, and 

13 (2) by striking ‘‘January 1, 2010’’ in paragraph 

14 (2)(A)(iv) and inserting ‘‘January 1, 2011’’. 

15 (b) CONFORMING AMENDMENTS.— 

16 (1) Section 168(k)(4)(D) of such Code is 

17 amended by redesignating clauses (i) and (ii) as 

18 clauses (iii) and (iv) and by inserting before clause 

19 (iii) (as so redesignated) the following new clauses: 

20 ‘‘(i) ‘January 1, 2009’ shall be sub21 stituted for ‘January 1, 2010’ each place it 

22 appears, 

23 ‘‘(ii) ‘January 1, 2010’ shall be sub24 stituted for ‘January 1, 2011’ in para25 graph (2)(A)(iv),’’. 


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1 (2) Section 168(l)(5) of such Code is amended 

2 by striking ‘‘January 1, 2009’’ and inserting ‘‘Janu3 ary 1, 2010’’. 

4 (3) Section 1400L(b)(2)(D) of such Code is 

5 amended by striking ‘‘January 1, 2010’’ and insert6 ing ‘‘January 1, 2011’’. 

7 (4) Section 1400N(d)(3) of such Code is 

8 amended by striking ‘‘January 1, 2009’’ and insert9 ing ‘‘January 1, 2010’’. 

10 (5) The heading for subsection (k) of section 

11 168 of such Code is amended by striking ‘‘JANUARY

12 1, 2009’’ and inserting ‘‘JANUARY 1, 2010’’. 

13 (6) The heading for clause (ii) of section 

14 168(k)(2)(B) of such Code is amended by striking 

15 ‘‘PRE-JANUARY 1, 2009’’ and inserting ‘‘PRE-JANU16 ARY 1, 2010’’. 

17 (c) EFFECTIVE DATE.—The amendments made by 

18 this section shall apply to property placed in service after 

19 December 31, 2008, in taxable years ending after such 

20 date. 

Æ 


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