To amend the Internal Revenue Code of 1986 to provide a 15-year recovery period for property used in the transmission or distribution of electricity for sale.

Amends the Internal Revenue Code to allow a 15-year recovery period for the depreciation of: (1) certain property used in the transmission or distribution of electricity for sale and which is originally placed in service after enactment of this Act; and (2) initial clearing and grading land improvements with respect to any electric utility transmission and distribution plant.