I 

108TH CONGRESS 

1ST SESSION H. R. 683

To amend the Internal Revenue Code of 1986 to increase the special allowance 

for depreciation for certain property acquired after September 10, 2001, 

from 30 percent to 100 percent, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 11, 2003

Mr. ENGLISH (for himself and Mr. JEFFERSON) 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 increase 

the special allowance for depreciation for certain property 

acquired after September 10, 2001, from 30 percent 

to 100 percent, and for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,
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1 SECTION 1. INCREASE IN SPECIAL ALLOWANCE FOR DE2 PRECIATION FOR CERTAIN PROPERTY AC3 QUIRED AFTER SEPTEMBER 10, 2001, FROM 30 

4 PERCENT TO 100 PERCENT. 

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

6 the Internal Revenue Code of 1986 is amended by adding 

7 at the end the following new paragraph: 

8 ‘‘(4) 100 PERCENT ALLOWANCE FOR CERTAIN

9 PROPERTY.—

10 ‘‘(A) IN GENERAL.—In the case of quali11 fied property placed in service after December 

12 31, 2002, and before January 1, 2006, para13 graph (1) shall be applied by substituting ‘100 

14 percent’ for ‘30 percent’ in subparagraph (A) 

15 thereof. 

16 ‘‘(B) APPLICABLE DATES.—For purposes 

17 of subparagraph (A)—

18 ‘‘(i) IN GENERAL.—Except as pro19 vided in clause (ii), paragraph (2) shall be 

20 applied by substituting ‘January 1, 2006’ 

21 for ‘September 11, 2004’ each place is oc22 curs. 

23 ‘‘(ii) BINDING WRITTEN CON24 TRACTS.—In the case of qualified property 

25 with respect to which a written contract 
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1 for the acquisition of such property is in 

2 effect before January 1, 2006—

3 ‘‘(I) paragraph (2)(A)(iii)(II) 

4 shall be applied by substituting ‘Janu5 ary 1, 2008’ for ‘September 11, 

6 2004’, and 

7 ‘‘(II) paragraph (2)(A)(iv) shall 

8 be applied by substituting ‘January 1, 

9 2008’ for ‘January 1, 2005’ and by 

10 substituting ‘January 1, 2009’ for 

11 ‘January 1, 2006’.’’. 

12 (b) SYNDICATIONS.—Subparagraph (D) of section 

13 168(k)(2) of such Code (relating to special rules) is 

14 amended by adding at the end the following: 

15 ‘‘(iii) SYNDICATIONS.—For purposes 

16 of subparagraph (A)(ii), if property—

17 ‘‘(I) is treated as originally 

18 placed in service after September 10, 

19 2001, either directly or by a lessor of 

20 such property or pursuant to clause 

21 (ii), and 

22 ‘‘(II) is sold within 6 months 

23 after such property is so placed in 

24 service, 
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1 such property shall be treated as originally 

2 placed in service not earlier than the date 

3 of such sale.’’. 

4 (c) EFFECTIVE DATES.—

5 (1) IN GENERAL.—Except as provided in para6 graph (2), the amendments made by this section 

7 shall apply to property placed in service after De8 cember 31, 2002, in taxable years beginning after 

9 such date. 

10 (2) SUBSECTION (b).—The amendment made 

11 by subsection (b) shall take effect as if included in 

12 the amendments made by section 101 of the Job 

13 Creation and Worker Assistance Act of 2002.

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