I 
119TH CONGRESS 
1ST SESSION H. R. 2872 
To amend the Internal Revenue Code of 1986 to require adjusted financial 
statement income to be reduced by the amount of certain deductions 
relating to repair and maintenance of certain public utility property. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 10, 2025 
Mrs. MILLER of West Virginia (for herself and Mr. SCHNEIDER) 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 require 
adjusted financial statement income to be reduced by 
the amount of certain deductions relating to repair and 
maintenance of certain public utility property. 
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 ‘‘Repair Expenditures 
Support Infrastructure, Labor Investment, Energy Needs, 
and Creates Equity Act of 2025’’ or the ‘‘RESILIENCE 
Act of 2025’’. 
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SEC. 2. REDUCTION OF ADJUSTED FINANCIAL STATEMENT 
INCOME WITH RESPECT TO APPLICABLE 
PUBLIC UTILITY REPAIR AND MAINTENANCE 
OF PUBLIC UTILITY PROPERTY. 
(a) IN GENERAL.—Section 56A(c)(13) of the Inter-
nal Revenue Code of 1986 is amended to read as follows: 
‘‘(13) DEPRECIATION.— 
‘‘(A) IN
GENERAL.—Adjusted financial 
statement income shall be— 
‘‘(i) reduced by— 
‘‘(I) depreciation deductions al-
lowed under section 167 with respect 
to property to which section 168 ap-
plies to the extent of the amount al-
lowed as deductions in computing tax-
able income for the taxable year, and 
‘‘(II) applicable public utility re-
pair and maintenance deductions al-
lowed under section 162 with respect 
to property to which section 168 ap-
plies to the extent of the amount al-
lowed as deductions in computing tax-
able income for the taxable year, and 
‘‘(ii) appropriately adjusted— 
‘‘(I) to disregard any amount of 
depreciation expense that is taken into 
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account on the taxpayer’s applicable 
financial statement with respect to 
such property, and 
‘‘(II) to take into account any 
other item specified by the Secretary 
in order to provide that such property 
is accounted for in the same manner 
as it is accounted for under this chap-
ter. 
‘‘(B) APPLICABLE PUBLIC UTILITY REPAIR 
AND
MAINTENANCE
DEDUCTIONS.—For pur-
poses of this paragraph, the term ‘applicable 
public utility repair and maintenance deduc-
tions’ means repair and maintenance deductions 
allowed to a taxpayer with respect to expendi-
tures which are— 
‘‘(i) incurred by such taxpayer with 
respect to any property described in sec-
tion 168(i)(10) which is owned by such 
taxpayer, and 
‘‘(ii) taken into account as a deprecia-
tion expense on the taxpayer’s applicable 
financial statement with respect to such 
property.’’. 
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(b) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2024. 
Æ 
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