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Full Text of this Amendment

SA 3445. Mr. BROWNBACK submitted an amendment intended to be proposed to amendment SA 3336 proposed by Mr. BAUCUS to the bill H.R. 4213, to amend the Internal Revenue Code of 1986 to extend certain provisions, and for other purposes; which was ordered to lie on the table; as follows:


On page 34, between lines 12 and 13, insert the following:
SEC. __X. EXTENSION AND MODIFICATION OF ADDITIONAL FIRST-YEAR DEPRECIATION FOR 50 PERCENT OF THE BASIS OF CERTAIN QUALIFIED PROPERTY.
(a) Extension.--Paragraph (2) of section 168(k) is amended--
(1) by striking "January 1, 2011" in subparagraph (A)(iv) and inserting "January 1, 2012", and
(2) by striking "January 1, 2010" each place it appears and inserting "January 1, 2011".
(b) Modification to Definition of Qualified Property.--Clause (i) of section 168(k)(2)(A) is amended to read as follows:
"(i)(I) to which this section applies which has a recovery period of 7 years or less, 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,".
(c) Elimination of Election to Accelerate AMT and Research Credits in Lieu of Bonus Depreciation.--Section 168(k) is amended by striking paragraph (4).
(d) Conforming Amendments.--
(1) The heading for subsection (k) of section 168 is amended by striking "January 1, 2010" and inserting "January 1, 2011".
(2) Section 168(k)(2)(B)(i)(II) is amended by striking "has a recovery period of at least 10 years or".
(3) Section 168(k)(2)(C)(i) is amended by inserting "(i)," after "clauses".
(4) Section 168(k) is amended by striking paragraph (3).
(5) Section 168(l)(5)(B) is amended by striking "January 1, 2010" and inserting "January 1, 2011".
(6) Section 168(n)(2)(B)(i)(I) is amended by striking "(determined without regard to paragraph (4))".
(7) Section 168(n)(2)(C)(ii) is amended by striking "January 1, 2010" and inserting "January 1, 2011".
(8) Section 1400L(b)(2)(D) is amended by striking "January 1, 2010" and inserting "January 1, 2011".
(9) Section 1400N(d)(3)(B) is amended by striking "January 1, 2010" and inserting "January 1, 2011".
(e) Effective Date.--
(1) IN GENERAL.--Except as provided in paragraph (2), the amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.
(2) BINDING CONTRACTS.--The amendments made by this section shall not apply to any property with respect to which the taxpayer has entered into a binding written contract before the date of the enactment of this Act.


SA 3446. Mr. TESTER submitted the amendment intended to be proposed by him to the bill H.R. 4213, to amend teh Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes, which was ordered to lie on the table; as follows:

At the appropriate place in title VI, insert the following:
SEC. 6__. AUTHORITY TO EXTEND WATER CONTRACT.
(a) In General.--The Secretary of the Interior may extend the contract for water services between the United States and the East Bench Irrigation District, numbered 14-06-600-3593, until the earlier of--
(1) the date that is 2 years after the date on which the contract would have expired if this Act had not been enacted; or
(2) the date on which a new long-term contract is executed by the parties to the contract.
(b) Effective Date.--This section takes effect on December 30, 2009.


(As printed in the Congressional Record for the Senate on Mar 8, 2010.)