Sec. 1308. ELECTRIC TRANSMISSION PROPERTY TREATED AS 15-YEAR PROPERTY

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## SEC. 1308 ELECTRIC TRANSMISSION PROPERTY TREATED AS 15-YEAR PROPERTY ###

(a)In General Subparagraph

(E)of section 168(e)(3) (relating to classification of certain property) is amended 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: > > ###### “(vii) > > any section 1245 property (as defined in section 1245(a)(3)) used in the transmission at 69 or more kilovolts of electricity for sale and the original use of which commences with the taxpayer after April 11, 2005.” > . ###

(b)Alternative System The table contained in section 168(g)(3)(B) (relating to special rule for certain property assigned to classes) is amended by inserting after the item relating to subparagraph (E)(vi) the following new item: ``(E)(vii)30''. ###

(c)Effective Date ####

(1)In general The amendments made by this section shall apply to property placed in service after April 11, 2005. ####

(2)Exception The amendments made by this section shall not apply to any property with respect to which the taxpayer or a related party has entered into a binding contract for the construction thereof on or before April 11, 2005, or, in the case of self-constructed property, has started construction on or before such date.