[Congressional Bills 110th Congress] [From the U.S. Government Publishing Office] [H.R. 165 Introduced in House (IH)] 110th CONGRESS 1st Session H. R. 165 To amend the Internal Revenue Code of 1986 to reduce the depreciation recovery period for roof systems. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 4, 2007 Mr. Jindal 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 reduce the depreciation recovery period for roof systems. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Realistic Roofing Tax Treatment Act of 2007''. SEC. 2. DEPRECIATION RECOVERY PERIOD FOR ROOF SYSTEMS. (a) 20-Year Recovery Period.--Subparagraph (F) of section 168(e)(3) of the Internal Revenue Code of 1986 (relating to classification of certain property) is amended to read as follows: ``(F) 20-year property.--The term `20-year property' means-- ``(i) initial clearing and grading land improvements with respect to any electric utility transmission and distribution plant, and ``(ii) any roof system.''. (b) Requirement to Use Straight Line Method.--Paragraph (3) of section 168(b) of such Code is amended by adding at the end the following new subparagraph: ``(I) Any roof system.''. (c) Alternative System.--The table contained in section 168(g)(3)(B) of such Code is amended by striking the last item and inserting the following new items: ``(F)(i)............................................. 25 (F)(ii).............................................. 20''. (d) Effective Date.--The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act. <all>