EXTENSION OF 15-YEAR STRAIGHT-LINE COST RECOVERY FOR QUALIFIED LEASEHOLD IMPROVEMENTS, QUALIFIED RESTAURANT BUILDINGS AND IMPROVEMENTS, AND QUALIFIED RETAIL IMPROVEMENTS.

SEC. 123. EXTENSION OF 15-YEAR STRAIGHT-LINE COST RECOVERY FOR QUALIFIED LEASEHOLD IMPROVEMENTS, QUALIFIED RESTAURANT BUILDINGS AND IMPROVEMENTS, AND QUALIFIED RETAIL IMPROVEMENTS.(a) Qualified Leasehold Improvement Property and Qualified Restaurant Property.—Clauses (iv) and (v) of section 168(e)(3)(E) are each amended by striking “placed in service before January 1, 2015”.(b) Qualified Retail Improvement Property.—Section 168(e)(3)(E)(ix) is amended by striking “placed in service after December 31, 2008, and before January 1, 2015”.(c) Effective Date.—The amendments made by this section shall apply to property placed in service after December 31, 2014.129 STAT. 3053