PlainBillCongress, translated.Legislation. Context. Public interest.Sponsor introductory remarks on measure. (CR S5175-5176)
Congressional Research Service
Version 00 · Introduced in Senate · Jan 11, 2007
Amends the Internal Revenue Code to allow qualified retail improvement property a 15-year recovery period for purposes of the tax deduction for depreciation. Defines such property as any improvement to an interior portion of a building which is nonresidential real property, if: (1) such portion is open to the general public and is used in the trade or business of selling tangible personal property or services to the general public; and (2) such improvement is placed in service more than three years after the date the building was first placed in service. Excludes specified improvements, including the enlargement of a building, any elevator or escalator, or the internal structural framework of a building.
People & committees
Sen. Snowe, Olympia J. [R-ME] · R–ME
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Sponsor introductory remarks on measure. (CR S5175-5176)
Sponsor introductory remarks on measure. (CR S4592)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S454)
Sponsor introductory remarks on measure. (CR S453)
Introduced in Senate
Primary sources
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Source last updated: Dec 5, 2025. Consult Congress.gov for the current record.
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