|Code Section||Effective Date||Name of Act||Name of Provision|
|1400N(d)(6)||12/31/2009||The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010||Bonus depreciation deduction applicable to specified Gulf Opportunity Zone extension property|
Bonus depreciation deduction applicable to specified Gulf Opportunity Zone extension property
Explanation of Provision
The provision extends for one year through December 31, 2011, the date by which specified Gulf Opportunity Zone extension property must be placed in service to be eligible for the additional first year depreciation deduction. In the case of nonresidential real property or residential rental property, the adjusted basis of such property attributable to manufacture, construction, or production before January 1, 2012 is eligible for the additional first-year depreciation.