ADDITIONAL FIRST-YEAR DEPRECIATION FOR 50 PERCENT OF THE BASIS OF CERTAIN QUALIFIED PROPERTY.

SEC. 2022. ADDITIONAL FIRST-YEAR DEPRECIATION FOR 50 PERCENT OF THE BASIS OF CERTAIN QUALIFIED PROPERTY.(a) In General.—Paragraph (2) of section 168(k) of the Internal Revenue Code of 1986 is amended—(1) by striking “January 1, 2011” in subparagraph (A)(iv) and inserting “January 1, 2012”, and(2) by striking “January 1, 2010” each place it appears and inserting “January 1, 2011”.(b) Conforming Amendments.—(1) The heading for subsection (k) of section 168 of the Internal Revenue Code of 1986 is amended by striking “January 1, 2010” and inserting “January 1, 2011”.(2) The heading for clause (ii) of section 168(k)(2)(B) of such Code is amended by striking “Pre-january 1, 2010” and inserting “Pre-january 1, 2011”.(3) Subparagraph (D) of section 168(k)(4) of such Code is amended by striking “and” at the end of clause (ii), by striking the period at the end of clause (iii) and inserting a comma, and by adding at the end the following new clauses:“(iv) ‘January 1, 2011’ shall be substituted for ‘January 1, 2012’ in subparagraph (A)(iv) thereof, and“(v) ‘January 1, 2010’ shall be substituted for ‘January 1, 2011’ each place it appears in subparagraph (A) thereof.”.(4) Subparagraph (B) of section 168(l)(5) of such Code is amended by striking “January 1, 2010” and inserting “January 1, 2011”.(5) Subparagraph (C) of section 168(n)(2) of such Code is amended by striking “January 1, 2010” and inserting “January 1, 2011”.(6) Subparagraph (D) of section 1400L(b)(2) of such Code is amended by striking “January 1, 2010” and inserting “January 1, 2011”.(7) Subparagraph (B) of section 1400N(d)(3) of such Code is amended by striking “January 1, 2010” and inserting “January 1, 2011”.124 STAT. 2559(c) Effective Date.—The amendments made by this section shall apply to property placed in service after December 31, 2009, in taxable years ending after such date.