A bill to amend the Internal Revenue Code of 1954 to provide for the amortization of new coal mining equipment ratably over a 12-month period.

States the findings of Congress that: (1) the expansion of coal mining capacity is essential to increased energy supplies; (2) initial capital costs for new mines are increasing rapidly; and (3) a large portion of capital costs are represented by the purchase of coal mining equipment.

Amends the Internal Revenue Code to allow a taxpayer to elect an income tax deduction with respect to the amortization of coal mining equipment over a 12-month period.