IN THE SENATE OF THE UNITED STATES
March 14, 2019
Mr. Toomey (for himself, Mr. Jones, Mr. King, Mr. Manchin, Mr. Portman, Mr. Roberts, Mrs. Shaheen, Mr. Thune, Ms. Sinema, and Ms. McSally) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to restore incentives for investments in qualified improvement property.
This Act may be cited as the
Restoring Investment in Improvements Act.
Technical amendments regarding qualified improvement property
Section 168 of the Internal Revenue Code of 1986 is amended—
in subsection (e)—
in paragraph (3)(E), by striking
and at the end of clause (v), by striking the period at the end of clause (vi) and inserting
, and, and by adding at the end the following new clause:
any qualified improvement property.
in paragraph (6)(A), by inserting
made by the taxpayer after
any improvement, and
in the table contained in subsection (g)(3)(B)—
by striking the item relating to subparagraph (D)(v), and
by inserting after the item relating to subparagraph (E)(vi) the following new item:
The amendments made by this section shall take effect as if included in section 13204 of Public Law 115–97.