I 
110TH CONGRESS 
2D SESSION 
H. R. 7043 
To amend the Internal Revenue Code of 1986 to provide for expensing 
of installing underground electric lines within the Hurricane Gustav 
disaster area, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 24, 2008 
Mr. CAZAYOUX introduced the following bill; which was referred to the Com-
mittee on Ways and Means, and in addition to the Committee on Energy 
and Commerce, for a period to be subsequently determined by the Speak-
er, in each case for consideration of such provisions as fall within the ju-
risdiction of the committee concerned 
A BILL 
To amend the Internal Revenue Code of 1986 to provide 
for expensing of installing underground electric lines 
within the Hurricane Gustav disaster area, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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‘‘(2) ELECTION
IRREVOCABLE.—Any election 
made under this section may not be revoked except 
with the consent of the Secretary. 
‘‘(c) DEFINITIONS.—For purposes of this section— 
‘‘(1) QUALIFIED PUBLIC UTILITY PROPERTY.— 
The term ‘qualified public utility property’ means 
public utility property (as defined in section 
168(i)(10)) used for the furnishing of electrical en-
ergy— 
‘‘(A) with respect to which depreciation (or 
amortization in lieu of depreciation) is allow-
able, and 
‘‘(B) which is installed underground within 
the area determined by the President to war-
rant assistance from the Federal Government 
under the Robert T. Stafford Disaster Relief 
and Emergency Assistance Act by reason of 
Hurricane Gustav. 
‘‘(d) ELECTION TO ALLOCATE DEDUCTION TO COOP-
ERATIVE OWNER.—For purposes of this section, rules 
similar to the rules of section 179C(g) shall apply. 
‘‘(e) BASIS REDUCTION.—For purposes of this sub-
title, if a deduction is allowed under this section with re-
spect to property, the basis of such property shall be re-
duced by the amount of the deduction so allowed. 
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‘‘(f) TERMINATION.—This section shall not apply to 
property placed in service after December 31, 2009.’’. 
(b) CONFORMING AMENDMENTS.— 
(1) Section 263(a)(1) of such Code is amended 
by striking ‘‘or’’ at the end of subparagraph (K), by 
striking the period at the end of subparagraph (L) 
and inserting ‘‘, or’’, and by inserting after subpara-
graph (L) the following new subparagraph: 
‘‘(M) expenditures for which a deduction is 
allowed under section 179F.’’. 
(2) Section 312(k)(3)(B) of such Code is 
amended by striking ‘‘or 179E’’ each place it ap-
pears in the heading and text thereof and inserting 
‘‘179E, or 179F’’. 
(3) Section 1016(a) of such Code is amended 
by striking ‘‘and’’ at the end of paragraph (35), by 
striking the period at the end of paragraph (36) and 
inserting ‘‘, and’’, and by inserting after paragraph 
(36) the following new paragraph: 
‘‘(37) to the extent provided in section 
179F(e).’’. 
(4) Paragraphs (2)(C) and (3)(C) of section 
1245(a) are each amended by inserting ‘‘179F,’’ 
after ‘‘179E,’’. 
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(5) The table of sections for part VI of sub-
chapter B of chapter 1 of such Code is amended by 
adding at the end the following new item: 
‘‘Sec. 179F. Deduction for underground public utility property for furnishing 
electricity deduction within the Hurricane Gustav disaster 
area.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2008. 
SEC. 2. STUDY OF ELECTRIC GRID FAILURES AFFECTING 
LOUISIANA FOLLOWING HURRICANE GUSTAV. 
Not later than 180 days after the date of the enact-
ment of this Act, the Comptroller General of the United 
States shall— 
(1) conduct a study of the electric grid failures 
that led to the long-lasting, extensive power outages 
that affected Louisiana following Hurricane Gustav, 
and 
(2) submit a report containing the findings and 
conclusions of such study to the Congress. 
Æ 
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