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Text of the Modernize Our Bookkeeping In the Law for Employee’s Cell Phone Act of 2008

This bill was introduced on February 26, 2008, in a previous session of Congress, but was not enacted. The text of the bill below is as of Feb 26, 2008 (Introduced).

Source: GPO

II

110th CONGRESS

2d Session

S. 2668

IN THE SENATE OF THE UNITED STATES

February 26, 2008

(for himself and Mr. Ensign) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to remove cell phones from listed property under section 280F.

1.

Short title

This Act may be cited as the Modernize Our Bookkeeping In the Law for Employee’s Cell Phone Act of 2008.

2.

Removal of cellular telephones (or similar telecommunications equipment) from listed property

(a)

In general

Subparagraph (A) of section 280F(d)(4) of the Internal Revenue Code (defining listed property) is amended by inserting and at the end of clause (iv), by striking clause (v), and by redesignating clause (vi) as clause (v).

(b)

Effective date

The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 2007.