In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Communications Facilities Deployment 
on Federal Property Act of 2018''.

SEC. 2. COMMUNICATIONS FACILITIES DEPLOYMENT ON FEDERAL PROPERTY.

    (a) In General.--Section 6409 of the Middle Class Tax Relief and 
Job Creation Act of 2012 (47 U.S.C. 1455) is amended--
            (1) in the heading, by striking ``wireless'' and inserting 
        ``communications''; and
            (2) by striking subsections (b), (c), and (d) and inserting 
        the following:
    ``(b) Federal Easements, Rights-of-Way, and Leases.--
            ``(1) Grant.--If an entity applies for the grant of an 
        easement, right-of-way, or lease to, in, over, or on a building 
        or other property owned by the Federal Government for the right 
        to install, construct, modify, or maintain a communications 
        facility installation, the executive agency that is authorized 
        to grant such easement, right-of-way, or lease for the building 
        or other property may grant to the applicant an easement, 
        right-of-way, or lease to perform such installation, 
        construction, modification, or maintenance.
            ``(2) Application forms.--Not later than 30 days after the 
        date of the enactment of the Communications Facilities 
        Deployment on Federal Property Act of 2018, the Administrator 
        of General Services shall develop a required common form for 
        applications for easements, rights-of-way, or leases under 
        paragraph (1). An executive agency may not require an applicant 
        under paragraph (1) to use any form for submitting the 
        application other than the common form developed by the 
        Administrator of General Services under this paragraph and may 
        not require any significant information beyond the information 
        required by such common form.
            ``(3) Common fees.--
                    ``(A) In general.--Notwithstanding any other 
                provision of law, not later than 30 days after the date 
                of the enactment of the Communications Facilities 
                Deployment on Federal Property Act of 2018, the 
                Administrator of General Services shall establish a 
                common fee for the processing of applications under 
                paragraph (1) and subsection (c).
                    ``(B) Fee guidelines.--The application fees 
                established pursuant to subparagraph (A) shall be--
                            ``(i) based on direct and actual cost 
                        recovery; and
                            ``(ii) competitively neutral with regard to 
                        other users of the building or other property 
                        owned by the Federal Government.
                    ``(C) Exceptions.--The Administrator of General 
                Services may establish exceptions to the fee amount 
                required under subparagraph (A)--
                            ``(i) in consideration of the public 
                        benefit provided by a grant of an easement, 
                        right-of-way, or lease; and
                            ``(ii) in the interest of expanding 
                        wireless and broadband coverage.
            ``(4) Use of fees collected.--Any fee collected by an 
        executive agency pursuant to paragraph (3) may be made 
        available, as provided in appropriations Acts, to such agency 
        to cover the costs of granting the easement, right-of-way, or 
        lease.
    ``(c) Master Contracts for Communications Facility Installation 
Sitings.--
            ``(1) In general.--Notwithstanding section 704 of the 
        Telecommunications Act of 1996 (Public Law 104-104; 110 Stat. 
        151) or any other provision of law, not later 30 days after the 
        date of the enactment of the Communications Facilities 
        Deployment on Federal Property Act of 2018, the Administrator 
        of General Services shall--
                    ``(A) develop one or more master contracts that 
                shall govern the placement of a communications facility 
                installation on a building or other property owned by 
                the Federal Government, which shall include offers of 
                lease terms for the communications facility 
                installation of not less than 10 years with automatic 
                lease renewals; and
                    ``(B) in developing the master contract or 
                contracts, standardize the treatment of the placement 
                of a communications facility installation on a building 
                rooftop or facade, the placement of a communications 
                facility installation on a rooftop or inside a 
                building, the technology used in connection with a 
                communications facility installation placed on a 
                Federal building and other property, and any other key 
                issues the Administrator of General Services considers 
                appropriate.
            ``(2) Applicability.--The master contract or contracts 
        developed by the Administrator of General Services under 
        paragraph (1) shall apply to all publicly accessible buildings 
        and other property owned by the Federal Government. An 
        executive agency may not enter into a contract governing the 
        placement of a communications facility installation on a 
        building or other property to which such a master contract 
        applies, unless the contract entered into by the agency is 
        consistent with, and does not contain any significant terms 
        beyond the terms contained in, such master contract.
    ``(d) Definitions.--In this section:
            ``(1) Communications facility installation.--The term 
        `communications facility installation' includes--
                    ``(A) any infrastructure, including any 
                transmitting device, tower, or support structure, and 
                any equipment, switches, wiring, cabling, power 
                sources, shelters, or cabinets, associated with the 
                licensed or permitted unlicensed wireless or wireline 
                transmission of writings, signs, signals, data, images, 
                pictures, or sounds of all kinds; and
                    ``(B) any antenna or apparatus that--
                            ``(i) is designed for the purpose of 
                        emitting or receiving radio frequency;
                            ``(ii) is designed to be operated, or is 
                        operating, from a fixed location pursuant to 
                        authorization by the Commission or is using 
                        duly authorized devices that do not require 
                        individual licenses; and
                            ``(iii) is added to a tower, building, or 
                        other structure.
            ``(2) Executive agency.--The term `executive agency' has 
        the meaning given such term in section 102 of title 40, United 
        States Code.''.
    (b) Effective Date.--This Act, and the amendments made by this Act, 
shall take effect 30 days after the date of the enactment of this Act.
    (c) Effect on Existing Applications.--An application for an 
easement, right-of-way, or lease that was made or granted under section 
6409 of the Middle Class Tax Relief and Job Creation Act of 2012 (47 
U.S.C. 1455) before the effective date of this Act shall continue, 
subject to such section as in effect on the day before such effective 
date.
[EX A]: Communications Facilities Deployment on Federal Property Act of 2018 This bill amends the Middle Class Tax Relief and Job Creation Act of 2012 to require the General Services Administration (GSA) to create a common form and to establish a common processing fee for applications for easements, rights-of-way, and leases relating to communications facility installations on federal property.  The GSA must develop a master contract for the placement of communications facility installations on federal property.

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Oceans Act of 1998''.

SEC. 2. DEFINITIONS.

    As used in this Act:
            (1) Commission.--The term ``Commission'' means the 
        Commission on Ocean Policy established under section 4.
            (2) Coastal state.--The term ``coastal State'' means a 
        State in, or bordering on, the Atlantic, Pacific, or Arctic 
        Ocean, the Gulf of Mexico, Long Island Sound, or one or more of 
        the Great Lakes.
            (3) Marine environment.--The term ``marine environment'' 
        includes--
                    (A) the oceans, including coastal and offshore 
                waters and nearshore saltwater estuaries;
                    (B) the continental shelf; and
                    (C) the Great Lakes.
            (4) Ocean and coastal activities.--The term ``ocean and 
        coastal activities'' includes activities consisting of, 
        affecting, or otherwise related to oceanography, fisheries, or 
        the management or use of any ocean and coastal resource. The 
        term does not include military operations and training.
            (5) Ocean and coastal resource.--The term ``ocean and 
        coastal resource'' means any living or nonliving natural, 
        historic, or cultural resource or mineral found in the marine 
        environment.
            (6) State.--The term ``State'' means any State of the 
        United States, the District of Columbia, the Commonwealth of 
        Puerto Rico, the Virgin Islands, Guam, American Samoa, the 
        Commonwealth of the Northern Mariana Islands, and any other 
        territory or possession of the United States.

SEC. 3. EXECUTIVE RESPONSIBILITIES.

    (a) National Ocean and Coastal Policy.--The Congress and the 
President, after receiving and considering the report of the Commission 
under section 4, shall develop and propose a coordinated, 
comprehensive, and long-range national policy for the responsible use 
and stewardship of ocean and coastal resources for the benefit of the 
United States, including a plan to meet the resource monitoring and 
assessment facilities and equipment requirements of Federal ocean and 
coastal programs.
    (b) Biennial Report.--Beginning in January 1999, the President 
shall transmit to the Congress biennially a report that shall include a 
detailed listing of all existing Federal programs relating to ocean and 
coastal activities, including a description of each program, the 
current funding for the program, and a projection of the funding level 
for the program for each of the following 5 fiscal years.
    (c) Budget Coordination.--Each agency or department involved in 
ocean and coastal activities shall include with its annual request for 
appropriations a report that identifies significant elements of the 
proposed agency or department budget relating to ocean and coastal 
activities.
    (d) Cooperation and Consultation.--In carrying out responsibilities 
under this Act, the President--
            (1) may use such staff, interagency, and advisory 
        arrangements as the President finds necessary and appropriate; 
        and
            (2) shall consult with State and local governments and non-
        Federal organizations and individuals involved in ocean and 
        coastal activities.

SEC. 4. COMMISSION ON OCEAN POLICY.

    (a) Establishment.--
            (1) In general.--There is hereby established the Commission 
        on Ocean Policy.
            (2) Membership.--(A) The Commission shall be composed of 16 
        members appointed by the President from among individuals who 
        are knowledgeable in ocean and coastal activities, including 
        individuals representing State and local governments, ocean-
        related industries, academic and technical institutions, and 
        public interest organizations involved with scientific, 
        regulatory, economic, and environmental ocean and coastal 
        activities. The membership of the Commission shall be balanced 
        geographically to the extent consistent with maintaining the 
        highest level of expertise on the Commission.
            (B) Of the members of the Commission appointed under this 
        paragraph--
                    (i) 4 shall be appointed from a list of 8 
                individuals who shall be recommended by the majority 
                leader of the Senate in consultation with the Chairman 
                of the Senate Committee on Commerce, Science, and 
                Transportation;
                    (ii) 4 shall be appointed from a list of 8 
                individuals who shall be recommended by the Speaker of 
                the House of Representatives in consultation with the 
                Chairmen of the Committee on Resources, Transportation 
                and Infrastructure, and Science;
                    (iii) 2 shall be appointed from a list of 4 
                individuals who shall be recommended by the minority 
                leader of the Senate in consultation with the ranking 
                member of the Senate Committee on Commerce, Science, 
                and Transportation; and
                    (iv) 2 shall be appointed from a list of 4 
                individuals who shall be recommended by the by the 
                minority leader of the House of Representatives in 
                consultation with the ranking members of the Committees 
                on Resources, Transportation and Infrastructure, and 
                Science.
            (C) The members of the Commission shall be appointed for 
        the life of the Commission by not later than 90 days after the 
        date of the enactment of this Act.
            (3) First meeting.--The Commission shall hold its first 
        meeting within 30 days after it is established.
            (4) Chairman.--The Commission shall elect one of its 
        members as Chair.
    (b) Report.--
            (1) In general.--The Commission shall submit to the 
        Congress and the President, by not later than 18 months after 
        the date of the establishment of the Commission, a final report 
        of its findings and recommendations regarding United States 
        ocean policy.
            (2) Public and state review.--Before submitting the final 
        report to the Congress, the Commission shall--
                    (A) publish in the Federal Register a notice that 
                the draft report is available for public review; and
                    (B) provide a copy of the draft report to the 
                Governor of each coastal State, the Committees on 
                Resources, Transportation and Infrastructure, and 
                Science of the House of Representatives, and the 
                Committee on Commerce, Science, and Transportation of 
                the Senate.
            (3) Final report contents, generally.--Subject to paragraph 
        (4), the final report of the Commission shall include 
        recommendations for the responsible use and stewardship of 
        ocean and coastal resources, including the following:
                    (A) Recommendations for any modifications to United 
                States laws and regulations, and the administrative 
                structure of the Executive agencies, that are necessary 
                to improve the understanding, management, and 
                conservation and use of, and access to, ocean and 
                coastal resources.
                    (B) An assessment of the condition and adequacy of 
                existing and planned facilities associated with ocean 
                and coastal activities, including human resources, 
                vessels, computers, satellites, and other appropriate 
                platforms and technologies, and recommendations for 
                investments and improvements in those facilities.
                    (C) A review of existing and planned ocean and 
                coastal activities of Federal entities, and 
                recommendations for changes in such activities 
                necessary to reduce duplication of Federal efforts.
                    (D) A review of the cumulative effect of Federal 
                laws and regulations on United States ocean policy, an 
                examination of those laws and regulations for 
                inconsistencies and contradictions that might adversely 
                affect the conduct of ocean and coastal activities, and 
                recommendations for resolving any such inconsistencies. 
                In particular, this portion of the report shall include 
                an examination of the relationship between the 
                fisheries development and fisheries conservation 
                responsibilities of the National Marine Fisheries 
                Service.
                    (E) A review of the known and anticipated supply of 
                and demand for ocean and coastal resources of the 
                United States.
                    (F) A review of the relationship between Federal, 
                State, and local governments and the private sector in 
                planning and carrying out ocean and coastal activities, 
                and recommendations for enhancing the role of State and 
                local governments.
                    (G) A review of opportunities for the development 
                of or investment in new products, technologies, or 
                markets related to ocean and coastal activities.
                    (H) A review of previous and ongoing State efforts 
                and Federal efforts to enhance the effectiveness and 
                integration of ocean activities, including those 
                occurring offshore and in nearshore saltwater 
                estuaries.
            (4) State comments.--The Commission shall include in the 
        final report comments received from the Governor of any coastal 
        State regarding recommendations in the draft report that apply 
        to areas within the boundaries of that coastal State.
            (5) Consideration of factors.--In making its assessments 
        and reviews and developing its recommendations, the Commission 
        shall give full and balanced consideration to environmental, 
        technical, economic, and other relevant factors, with an equal 
        opportunity for all parties to present a fair and reasonable 
        case for unbiased consideration by the Commission. All 
        recommendations should consider effects on private property. To 
        the greatest extent possible, no recommendations shall have a 
        negative impact on local economies that are dependent on ocean 
        and coastal resources. Any data used by the Commission in 
        making its recommendations for regulations shall be peer 
        reviewed.
            (6) Limitation on recommendations.--The Commission shall 
        not make any specific recommendations with respect to lands and 
        waters within the boundary of any State located north of 51 
        degrees North latitude, or with respect to lands and waters 
        within the State of Idaho.
    (c) Duties of the Chair.--In carrying out the provisions of this 
section, the Chair of the Commission shall be responsible for--
            (1) the assignment of duties and responsibilities among 
        staff personnel and their continuing supervision; and
            (2) the use and expenditures of funds available to the 
        Commission.
    (d) Compensation.--Members of the Commission shall, subject to the 
availability of appropriations, when engaged in the actual performance 
of duties of the Commission, receive reimbursement of travel expenses, 
including per diem in lieu of subsistence as authorized for persons 
employed intermittently in the Government service under section 3109 of 
title 5, United States Code.
    (e) Staff.--
            (1) Executive director.--The Chair of the Commission may, 
        with the consent of the Commission and without regard to the 
        civil service laws and regulations, appoint and terminate an 
        executive director who is knowledgeable in administrative 
        management and ocean and coastal policy and such other 
        additional personnel as may be necessary to enable the 
        Commission to perform its duties.
            (2) Compensation.--The executive director shall, subject to 
        the availability of appropriations, be compensated at a rate 
        not to exceed the rate payable for Level V of the Executive 
        Schedule under section 5316 of title 5, United States Code. The 
        Chairman may fix the compensation of other personnel without 
        regard to the provisions of chapter 51 and subchapter III of 
        chapter 53 of title 5, United States Code, relating to 
        classification of positions and General Schedule pay rates, 
        except that the rate of pay for such personnel may not exceed 
        the rate payable for GS-15, step 7, of the General Schedule 
        under section 5332 of such title.
            (3) Detailees.--Upon a request of the Chair of the 
        Commission made after consulting with the head of any Federal 
        agencies responsible for managing ocean and coastal resources, 
        the head of any such Federal agency may detail appropriate 
        personnel of the agency to the Commission to assist the 
        Commission in carrying out its functions under this Act. 
        Federal Government employees detailed to the Commission shall 
        serve without reimbursement from the Commission, and shall 
        retain the rights, status, and privileges of his or her regular 
        employment without interruption.
            (4) Experts and consultants.--To the extent that funds are 
        available, and subject to such rules as may be prescribed by 
        the Commission, the executive director of the Commission may 
        procure the temporary and intermittent services of experts and 
        consultants in accordance with section 3109 of title 5, United 
        States Code, but at rates not to exceed the daily rate payable 
        for GS-15, step 7, of the General Schedule under section 5332 
        of title 5, United States Code.
    (f) Administration.--
            (1) Meetings.--All meetings of the Commission shall be open 
        to the public, except that a meeting or any portion of it may 
        be closed to the public if it concerns matters or information 
        described in section 552b(c) of title 5, United States Code. 
        Interested persons shall be permitted to appear at open 
        meetings and present written statements or oral statements at 
        the discretion of the Commission on the subject matter of the 
        meeting. The Commission may administer oaths or affirmations to 
        any person appearing before it.
            (2) Notice of meetings.--All open meetings of the 
        Commission shall be preceded by timely public notice, including 
        notice in the Federal Register, of the time, place, and subject 
        of the meeting.
            (3) Minutes and other records.--(A) Minutes of each meeting 
        shall be kept and shall contain a record of the people present, 
        a description of the discussion that occurred, and copies of 
        all statements filed. Subject to restrictions set forth in 
        section 552 of title 5, United States Code, the minutes and 
        records of all meetings and other documents that were made 
        available to or prepared for the Commission shall be available 
        for public inspection and copying at a single location in the 
        offices of the Commission.
            (B) The Commission shall have at least one meeting in each 
        of the following 6 geographic regions of the United States:
                    (i) The Northeast.
                    (ii) The Southeast.
                    (iii) The Southwest.
                    (iv) The Northwest.
                    (v) The Great Lakes States.
                    (vi) The Gulf of Mexico States.
    (g) Cooperation With Other Federal Entities.--
            (1) Other federal agencies and departments.--The Commission 
        may secure directly from any Federal agency or department any 
        information it considers necessary to carry out its functions 
        under this Act. Each such agency or department may cooperate 
        with the Commission and, to the extent permitted by law, 
        furnish such information to the Commission, upon the request of 
        the Chair of the Commission.
            (2) Mails.--The Commission may use the United States mails 
        in the same manner and under the same conditions as departments 
        and agencies of the United States.
            (3) Acquisitions.--The Commission may enter into contracts 
        with Federal and State agencies, private firms, institutions, 
        and individuals to assist the Commission in carrying out its 
        duties. The Commission may purchase and contract without regard 
        to section 18 of the Office of Federal Procurement Policy Act 
        (41 U.S.C. 416) and section 8 of the Small Business Act (15 
        U.S.C. 637), pertaining to competition and publication 
        requirements, and may arrange for printing without regard to 
        the provisions of title 44, United States Code. The contracting 
        authority of the Commission under this Act is effective only to 
        the extent that appropriations are available for contracting 
        purposes.
    (h) Termination.--The Commission shall cease to exist 30 days after 
the date on which it submits its final report.
    (i) Authorization of Appropriations.--There are authorized to be 
appropriated to support the activities of the Commission $2,000,000 for 
fiscal year 1999 and $1,000,000 for fiscal year 2000. Any sums 
appropriated may remain available without fiscal year limitation until 
the Commission ceases to exist.

            Passed the House of Representatives September 15, 1998.

            Attest:

                                                                 Clerk.
[EX A]: Oceans Act of 1998 - Requires that the Congress and the President, after considering the Commission report under this Act, develop a coordinated, comprehensive, and long-range national policy for the use and stewardship of ocean and coastal resources for the benefit of the United States, including a plan to meet the resource monitoring and assessment facilities and equipment requirements of Federal ocean and coastal programs.  Mandates a biennial report by the President to the Congress listing all existing Federal programs relating to ocean and coastal activities.  Requires each agency or department involved in ocean and coastal activities to include with its annual appropriations request a report identifying elements of its budget relating to ocean and coastal activities. 
Establishes the Commission on Ocean Policy and requires it to report to the Congress and the President regarding U.S. ocean policy. Requires opening the draft report for public comment before submitting the final report.  Prohibits Commission recommendations regarding lands and waters within:  (1) the boundary of any State north of 51 degrees North latitude; or (2) the State of Idaho.  Terminates the Commission after submission of its final report.  Authorizes appropriations.

[EX Q]: SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Economic Stimulus Through Bonus 
Depreciation Act of 2001''.

SEC. 2. BONUS DEPRECIATION ALLOWANCE FOR CERTAIN BUSINESS ASSETS.

    (a) In General.--Section 168 of the Internal Revenue Code of 1986 
(relating to accelerated cost recovery system) is amended by adding at 
the end the following:
    ``(k) Bonus Allowance for Certain Business Assets.--
            ``(1) In general.--In the case of any qualified property--
                    ``(A) the depreciation deduction provided by 
                section 167(a) for the taxable year in which such 
                property is placed in service shall be an amount equal 
                to 50 percent of the adjusted basis of the qualified 
                property, and
                    ``(B) subject to paragraph (2), the amount 
                otherwise allowable as a depreciation deduction under 
                this chapter for any subsequent taxable year shall be 
                computed in the same manner as if this subsection had 
                not been enacted.
            ``(2) Adjusted basis.--The aggregate deduction allowed 
        under this section for taxable years described in paragraph 
        (1)(B) with respect to any qualified property shall not exceed 
        the adjusted basis of such property reduced by the amount of 
        the deduction allowed under paragraph (1)(A).
            ``(3) Qualified property.--For purposes of this 
        subsection--
                    ``(A) In general.--The term `qualified property' 
                means property--
                            ``(i)(I) to which this section applies, or
                            ``(II) which is computer software (as 
                        defined in section 167(f)(1)(B)) for which a 
                        deduction is allowable under section 167(a) 
                        without regard to this subsection,
                            ``(ii) the original use of which commences 
                        with the taxpayer on or after September 11, 
                        2001,
                            ``(iii) which is--
                                    ``(I) acquired by the taxpayer on 
                                or after September 11, 2001, and before 
                                July 1, 2002, but only if no written 
                                binding contract for the acquisition 
                                was in effect before September 11, 
                                2001, or
                                    ``(II) acquired by the taxpayer 
                                pursuant to a written binding contract 
                                which was entered into on or after 
                                September 11, 2001, and before July 1, 
                                2002, and
                            ``(iv) which is placed in service by the 
                        taxpayer before January 1, 2003.
                    ``(B) Exceptions.--
                            ``(i) Alternative depreciation property.--
                        The term `qualified property' shall not include 
                        any property to which the alternative 
depreciation system under subsection (g) applies, determined--
                                    ``(I) without regard to paragraph 
                                (7) of subsection (g) (relating to 
                                election to have system apply), and
                                    ``(II) after application of section 
                                280F(b) (relating to listed property 
                                with limited business use).
                            ``(ii) Election out.--If a taxpayer makes 
                        an election under this clause with respect to 
                        any class of property for any taxable year, 
                        this subsection shall not apply to all property 
                        in such class placed in service during such 
                        taxable year.
                            ``(iii) Repaired or reconstructed 
                        property.--Except as otherwise provided in 
                        regulations, the term `qualified property' 
                        shall not include any repaired or reconstructed 
                        property.
                    ``(C) Special rules relating to original use.--
                            ``(i) Self-constructed property.--In the 
                        case of a taxpayer manufacturing, constructing, 
                        or producing property for the taxpayer's own 
                        use, the requirements of clause (ii) of 
                        subparagraph (A) shall be treated as met if the 
                        taxpayer begins manufacturing, constructing, or 
                        producing the property on or after September 
                        11, 2001, and before January 1, 2003.
                            ``(ii) Sale-leasebacks.--For purposes of 
                        subparagraph (A)(i), if property--
                                    ``(I) is originally placed in 
                                service on or after September 11, 2001, 
                                by a person, and
                                    ``(II) is sold and leased back by 
                                such person within 3 months after the 
                                date such property was originally 
                                placed in service,
                        such property shall be treated as originally 
                        placed in service not earlier than the date on 
                        which such property is used under the leaseback 
                        referred to in subclause (II).
                    ``(D) Coordination with section 280f.-- For 
                purposes of section 280F--
                            ``(i) Automobiles.--In the case of a 
                        passenger automobile (as defined in section 
                        280F(d)(5)) which is qualified equipment, the 
                        Secretary shall increase the limitation under 
                        section 280F(a)(1)(A)(i), and decrease each 
                        other limitation under subparagraphs (A) and 
                        (B) of section 280F(a)(1), to appropriately 
                        reflect the amount of the deduction allowable 
                        under paragraph (1).
                            ``(ii) Listed property.--The deduction 
                        allowable under paragraph (1) shall be taken 
                        into account in computing any recapture amount 
                        under section 280F(b)(2).
            ``(4) Applicable convention.--Subsection (d)(3) shall not 
        apply in determining the applicable convention with respect to 
        qualified property.''.
    (b) Allowance Against Alternative Minimum Tax.--
            (1) In general.--Section 56(a)(1)(A) of the Internal 
        Revenue Code of 1986 (relating to depreciation adjustment for 
        alternative minimum tax) is amended by adding at the end the 
        following:
                            ``(iii) Additional allowance for certain 
                        business assets.--The deduction under section 
                        168(k) shall be allowed.''.
            (2) Conforming amendment.--Clause (i) of section 
        56(a)(1)(A) of such Code is amended by inserting ``or (iii)'' 
        after ``(ii)''.
    (c) Effective Date.--The amendments made by this section shall 
apply to property placed in service on or after September 11, 2001, in 
taxable years ending on or after such date.
[EX A]:
Economic Stimulus Through Bonus Depreciation Act of 2001 - Amends the Internal Revenue Code to provide a 50 percent bonus (first-year) deduction for qualified business property (including computer software) acquired or contracted for between September 11, 2001 and July 1, 2002, and placed in service before January 1, 2003.Sets forth related provisions respecting: (1) alternative depreciation property; (2) original use; and (3) alternative minimum tax.