‘‘(II) as having elected the appli-
cation of this paragraph if any such 
corporation so elects. 
‘‘(C) CREDIT
REFUNDABLE.—For pur-
poses of section 6401(b), the aggregate increase 
in the credits allowable under part IV of sub-
chapter A for any taxable year resulting from 
the application of this paragraph shall be treat-
ed as allowed under subpart C of such part 
(and not any other subpart). 
‘‘(D) OTHER RULES.— 
‘‘(i) ELECTION.—Any election under 
this paragraph may be revoked only with 
the consent of the Secretary. 
‘‘(ii) PARTNERSHIPS WITH ELECTING 
PARTNERS.—In the case of a corporation 
which is a partner in a partnership and 
which makes an election under subpara-
graph (A) for the taxable year, for pur-
poses of determining such corporation’s 
distributive share of partnership items 
under section 702 for such taxable year— 
‘‘(I) 
paragraphs 
(1)(A) 
and 
(2)(F)(i) shall not apply, and 
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‘‘(II) the applicable depreciation 
method used under this section with 
respect to any qualified property shall 
be the straight line method. 
‘‘(iii) CERTAIN
PARTNERSHIPS.—In 
the case of a partnership in which more 
than 50 percent of the capital and profits 
interests are owned (directly or indirectly) 
at all times during the taxable year by 1 
corporation (or by corporations treated as 
1 taxpayer under subparagraph (B)(iii)), 
each partner shall compute its bonus de-
preciation amount under clause (i) of sub-
paragraph (B) by taking into account its 
distributive share of the amounts deter-
mined by the partnership under subclauses 
(I) and (II) of such clause for the taxable 
year of the partnership ending with or 
within the taxable year of the partner. 
‘‘(iv) SPECIAL RULE FOR PASSENGER 
AIRCRAFT.—In the case of any passenger 
aircraft, the written binding contract limi-
tation under paragraph (2)(A)(iii)(I) shall 
not apply for purposes of subparagraph 
(B)(i)(I).’’. 
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(d) CONFORMING AMENDMENTS.— 
(1) The heading for subsection (k) of section 
168 of such Code is amended by striking ‘‘JANUARY 
1, 2014’’ and inserting ‘‘JANUARY 1, 2016’’. 
(2) The heading for clause (ii) of section 
168(k)(2)(B) of such Code is amended by striking 
‘‘PRE-JANUARY 1, 2014’’ and inserting ‘‘PRE-JANU-
ARY 1, 2016’’. 
(3) Subparagraph (C) of section 168(n)(2) of 
such Code is amended by striking ‘‘January 1, 
2014’’ and inserting ‘‘January 1, 2016’’. 
(4) Subparagraph (D) of section 1400L(b)(2) 
of such Code is amended by striking ‘‘January 1, 
2014’’ and inserting ‘‘January 1, 2016’’. 
(5) Subparagraph (B) of section 1400N(d)(3) 
of such Code is amended by striking ‘‘January 1, 
2014’’ and inserting ‘‘January 1, 2016’’. 
(e) TECHNICAL AMENDMENT RELATING TO SECTION 
331 OF
THE AMERICAN TAXPAYER RELIEF ACT
OF 
2012.—Clause (iii) of section 168(k)(4)(J) of such Code 
is amended by striking ‘‘any taxable year’’ and inserting 
‘‘its first taxable year’’. 
(f) EFFECTIVE DATES.— 
(1) IN
GENERAL.—Except as otherwise pro-
vided in this subsection, the amendments made by 
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this subsection shall apply to property placed in 
service after December 31, 2013. 
(2) EXPANSION OF ELECTION TO ACCELERATE 
AMT CREDITS IN LIEU OF BONUS DEPRECIATION.— 
(A) IN GENERAL.—The amendment made 
by subsection (c) (other than so much of such 
amendment 
as 
relates 
to 
section 
168(k)(4)(D)(iii) of such Code, as added by 
such amendment) shall apply to taxable years 
ending after December 31, 2013. 
(B) TRANSITIONAL RULE.—In the case of 
a taxable year beginning before January 1, 
2014, and ending after December 31, 2013, the 
bonus depreciation amount determined under 
section 168(k)(4) of such Code for such year 
shall be the sum of— 
(i) such amount determined without 
regard to the amendments made by this 
section and— 
(I) by taking into account only 
property placed in service before Jan-
uary 1, 2014, and 
(II) by multiplying the limitation 
under section 168(k)(4)(C)(ii) of such 
Code (determined without regard to 
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the amendments made by this section) 
by a fraction the numerator of which 
is the number of days in the taxable 
year before January 1, 2014, and the 
denominator of which is the number 
of days in the taxable year, and 
(ii) such amount determined after 
taking into account the amendments made 
by this section and— 
(I) by taking into account only 
property placed in service after De-
cember 31, 2013, and 
(II) by multiplying the limitation 
under section 168(k)(4)(B)(ii) of such 
Code (as amended by this section) by 
a fraction the numerator of which is 
the number of days in the taxable 
year after December 31, 2013, and 
the denominator of which is the num-
ber of days in the taxable year. 
(3) TECHNICAL AMENDMENT.—The amendment 
made by subsection (e) shall take effect as if in-
cluded in the provision of the American Taxpayer 
Relief Act of 2012 to which it relates. 
Æ 
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