To require the Secretary of the Treasury to submit a study of tax depreciation recovery periods.

Directs the Secretary of the Treasury to conduct a study of the differences between the depreciation recovery periods used for computing taxable income or loss under the Internal Revenue Code and for computing net income or loss for financial statement purposes. Requires the study to include such recommendations as the Secretary may have for adjusting the recovery periods used for tax purposes to make them closer to the periods used for financial statement purposes.

[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 46 Introduced in House (IH)]







108th CONGRESS
  1st Session
                                 H. R. 46

   To require the Secretary of the Treasury to submit a study of tax 
                     depreciation recovery periods.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 7, 2003

 Mr. Collins introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To require the Secretary of the Treasury to submit a study of tax 
                     depreciation recovery periods.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. STUDY OF DEPRECIATION RECOVERY PERIODS.

    The Secretary of the Treasury or the Secretary's delegate shall 
conduct a study of the differences between the depreciation recovery 
periods used for computing taxable income or loss under the Internal 
Revenue Code of 1986 and for computing net income or loss for financial 
statement purposes. Such study shall include such recommendations as 
the Secretary may have for adjusting the recovery periods used for tax 
purposes to make them closer to the periods used for financial 
statement purposes. The report of such study shall be submitted to 
Congress not later than 1 year after the date of the enactment of this 
Act.
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