Legislation in the Senate would amend the Internal Revenue Code to provide a 10-year depreciation life for leasehold improvements to commercial facilities.
Sen. Kent Conrad (D-N.D.) introduced legislation in the Senate that would amend the Internal Revenue Code to provide a 10-year depreciation life for leasehold improvements to commercial facilities. These improvements include plumbing systems. Under current law, owners must wait 39 years to depreciate the cost of improvements made each time a lease tenant is found.
