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S.L.C.
229 1 striking ‘‘October 1, 2009’’ and inserting ‘‘October 1, 2 2012’’. 3
(c) ACCOUNTABILITY.—The second sentence of sec-
4 tion 701(d) of the American Jobs Creation Act of 2004 5 is amended by striking ‘‘issuance,’’ and inserting 6 ‘‘issuance of the last issue with respect to such project,’’. 7
SEC. 308. SPECIAL DEPRECIATION ALLOWANCE FOR CER-
8
TAIN REUSE AND RECYCLING PROPERTY.
9
(a) IN GENERAL.—Section 168 is amended by adding
10 at the end the following new subsection: 11 12 13 14
‘‘(m) SPECIAL ALLOWANCE AND
FOR
CERTAIN REUSE
RECYCLING PROPERTY.— ‘‘(1) IN
GENERAL.—In
the case of any qualified
reuse and recycling property—
15
‘‘(A) the depreciation deduction provided
16
by section 167(a) for the taxable year in which
17
such property is placed in service shall include
18
an allowance equal to 50 percent of the ad-
19
justed basis of the qualified reuse and recycling
20
property, and
21
‘‘(B) the adjusted basis of the qualified
22
reuse and recycling property shall be reduced by
23
the amount of such deduction before computing
24
the amount otherwise allowable as a deprecia-