S. 1361 · 110th Congress
Leasehold Improvement Depreciation Act of 2007
- Stage
- In committee
- Sponsor
- Kent Conrad
- Introduced
- 2007-05-10
- Latest action
- 2007-05-10 · Introduced in Senate
Summary
Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property.