PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Apr 26, 1999
Amends the Internal Revenue Code to reduce from 39 years (life of the building) to ten years the recovery period for the depreciation (by straight line method) of any qualified leasehold improvement to an interior portion of a building which is nonresidential real property if: (1) such improvement is made under or pursuant to a lease (including a commitment to lease) by the lessee (or any sublessee) or the lessor of such portion; (2) such portion is to be occupied exclusively by the lessee (or any sublessee); and (3) such improvement is placed in service more than three years after the date the building was first placed in service. Excludes from the meaning of qualified leasehold improvement any improvement for which the expenditure is attributable to: (1) enlargement of the building; (2) any elevator or escalator; (3) any structural component benefitting a common area; and (4) the internal structural framework of the building.
People & committees
Sen. Conrad, Kent [D-ND] · D–ND
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S4190)
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze S.879 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine S.879 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine S.879 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine S.879 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.