No actions available.

Full Text of this Amendment

SA 4424. Mrs. HUTCHISON (for herself and Mr. Nelson of Florida) submitted an amendment intended to be proposed to amendment SA 4387 submitted by Mr. Dodd (for himself and Mr. Shelby) to the bill H.R. 3221, moving the United States toward greater energy independence and security, developing innovative new technologies, reducing carbon emissions, creating green jobs, protecting consumers, increasing clean renewable energy production, and modernizing our energy infrastructure,
and to amend the Internal Revenue Code of 1986 to provide tax incentives for the production of renewable energy and energy conservation; which was ordered to lie on the table; as follows:

At the end of title IV, insert the following:
(a) In General.--Section 168(e)(3)(E) of the Internal Revenue Code of 1986 (defining 15-year property) is amended by striking ``and'' at the end of clause (vii), by striking the period at the end of clause (viii) and inserting ``, and'', and by adding at the end the following new clause:
``(ix) any qualified new restaurant property placed in service before the date that is 12 months after the date of the enactment of this clause.''.
(b) Qualified New Restaurant Property.--Subsection (e) of section 168 of such Code is amended by adding at the end the following new paragraph:
``(8) QUALIFIED NEW RESTAURANT PROPERTY.--The term `qualified new restaurant property' means any section 1250 property which is a building if more than 50 percent of the building's square footage is devoted to preparation of, and seating for on-premises consumption of, prepared meals.''.
(c) Effective Date.--The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act.

(As printed in the Congressional Record for the Senate on Apr 3, 2008.)