IB 
Union Calendar No. 232 
114TH CONGRESS 
1ST SESSION 
H. R. 765 
[Report No. 114–306] 
To amend the Internal Revenue Code of 1986 to permanently extend the 
15-year recovery period for qualified leasehold improvement property, 
qualified restaurant property, and qualified retail improvement property. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 5, 2015 
Mr. KELLY of Pennsylvania (for himself and Mr. NEAL) introduced the 
following bill; which was referred to the Committee on Ways and Means 
OCTOBER 23, 2015 
Additional sponsors: Mr. PAULSEN, Mr. BABIN, Ms. JENKINS of Kansas, Mr. 
TIBERI, Mr. MCKINLEY, Mr. CULBERSON, Mr. FITZPATRICK, Mr. REED, 
Mrs. BLACK, Mrs. NOEM, Mr. MARCHANT, Mr. THOMPSON of California, 
Mr. COSTELLO of Pennsylvania, Mr. NUNES, Mr. RENACCI, Mr. MEE-
HAN, and Mr. COFFMAN 
OCTOBER 23, 2015 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on February 5, 2015] 
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A BILL 
To amend the Internal Revenue Code of 1986 to permanently 
extend the 15-year recovery period for qualified leasehold 
improvement property, qualified restaurant property, and 
qualified retail improvement property. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Restaurant and Retail 
Jobs and Growth Act of 2015’’. 
SEC. 2. PERMANENT EXTENSION OF TREATMENT OF QUALI-
FIED LEASEHOLD IMPROVEMENT PROPERTY 
AS 15-YEAR PROPERTY FOR PURPOSES OF DE-
PRECIATION DEDUCTION. 
(a) IN GENERAL.—Clause (iv) of section 168(e)(3)(E) 
of the Internal Revenue Code of 1986 is amended by strik-
ing ‘‘placed in service before January 1, 2015’’. 
(b) EFFECTIVE DATE.—The amendment made by this 
section shall apply to property placed in service after De-
cember 31, 2014. 
SEC. 3. PERMANENT EXTENSION OF TREATMENT OF QUALI-
FIED RESTAURANT PROPERTY AS 15-YEAR 
PROPERTY FOR PURPOSES OF DEPRECIATION 
DEDUCTION. 
(a) IN GENERAL.—Clause (v) of section 168(e)(3)(E) 
of the Internal Revenue Code of 1986 is amended by strik-
ing ‘‘placed in service before January 1, 2015’’. 
(b) EFFECTIVE DATE.—The amendment made by this 
section shall apply to property placed in service after De-
cember 31, 2014. 
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SEC. 4. PERMANENT EXTENSION OF TREATMENT OF QUALI-
FIED RETAIL IMPROVEMENT PROPERTY AS 15- 
YEAR PROPERTY FOR PURPOSES OF DEPRE-
CIATION DEDUCTION. 
(a) IN GENERAL.—Clause (ix) of section 168(e)(3)(E) 
of the Internal Revenue Code of 1986 is amended by strik-
ing ‘‘, and before January 1, 2015’’. 
(b) EFFECTIVE DATE.—The amendment made by this 
section shall apply to property placed in service after De-
cember 31, 2014. 
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Union Calendar No. 232 
114TH CONGRESS 
1ST SESSION 
H. R. 765 
[Report No. 114–306] 
A BILL 
To amend the Internal Revenue Code of 1986 to 
permanently extend the 15-year recovery period 
for qualified leasehold improvement property, 
qualified restaurant property, and qualified retail 
improvement property. 
OCTOBER 23, 2015 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
VerDate Sep 11 2014 
21:09 Oct 23, 2015
Jkt 059200
PO 00000
Frm 00006
Fmt 6651
Sfmt 6651
E:\BILLS\H765.RH
H765
srobinson on DSK5SPTVN1PROD with BILLS