text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Fixed Asset Relief Act of 2015''.
  
  SEC. 2. BONUS DEPRECIATION INCREASED TO 100 PERCENT AND MADE PERMANENT.
  
      (a) Increase.--Section 168(k)(1)(A) of the Internal Revenue Code of 
  1986 is amended by striking ``50 percent'' and inserting ``100 
  percent''.
      (b) Made Permanent.--Section 168(k)(2) of the Internal Revenue Code 
  of 1986 is amended to read as follows:
              ``(2) Qualified property.--For purposes of this 
          subsection--
                      ``(A) In general.--The term `qualified property' 
                  means property--
                              ``(i)(I) to which this section applies 
                          which has a recovery period of 20 years or 
                          less,
                              ``(II) which is computer software (as 
                          defined in section 167(f)(1)(B)) for which a 
                          deduction is allowable under section 167(a) 
                          without regard to this subsection,
                              ``(III) which is water utility property, or
                              ``(IV) which is qualified leasehold 
                          improvement property, and
                              ``(ii) the original use of which commences 
                          with the taxpayer.
                      ``(B) Exception for alternative depreciation 
                  property.--The term `qualified property' shall not 
                  include any property to which the alternative 
                  depreciation system under subsection (g) applies, 
                  determined--
                              ``(i) without regard to paragraph (7) of 
                          subsection (g) (relating to election to have 
                          system apply), and
                              ``(ii) after application of section 280F(b) 
                          (relating to listed property with limited 
                          business use).
                      ``(C) Special rules.--
                              ``(i) Sale-leasebacks.--For purposes of 
                          clause (ii) and subparagraph (A)(ii), if 
                          property is--
                                      ``(I) originally placed in service 
                                  by a person, and
                                      ``(II) sold and leased back by such 
                                  person within 3 months after the date 
                                  such property was originally placed in 
                                  service,
                          such property shall be treated as originally 
                          placed in service not earlier than the date on 
                          which such property is used under the leaseback 
                          referred to in subclause (II).
                              ``(ii) Syndication.--For purposes of 
                          subparagraph (A)(ii), if--
                                      ``(I) property is originally placed 
                                  in service by the lessor of such 
                                  property,
                                      ``(II) such property is sold by 
                                  such lessor or any subsequent purchaser 
                                  within 3 months after the date such 
                                  property was originally placed in 
                                  service (or, in the case of multiple 
                                  units of property subject to the same 
                                  lease, within 3 months after the date 
                                  the final unit is placed in service, so 
                                  long as the period between the time the 
                                  first unit is placed in service and the 
                                  time the last unit is placed in service 
                                  does not exceed 12 months), and
                                      ``(III) the user of such property 
                                  after the last sale during such 3-month 
                                  period remains the same as when such 
                                  property was originally placed in 
                                  service,
                          such property shall be treated as originally 
                          placed in service not earlier than the date of 
                          such last sale.
                      ``(D) Coordination with section 280f.--For purposes 
                  of section 280F--
                              ``(i) Automobiles.--In the case of a 
                          passenger automobile (as defined in section 
                          280F(d)(5)) which is qualified property, the 
                          Secretary shall increase the limitation under 
                          section 280F(a)(1)(A)(i) by $8,000.
                              ``(ii) Listed property.--The deduction 
                          allowable under paragraph (1) shall be taken 
                          into account in computing any recapture amount 
                          under section 280F(b)(2).
                              ``(iii) Inflation adjustment.--In the case 
                          of any taxable year beginning in a calendar 
                          year after 2015, the $8,000 amount in clause 
                          (i) shall be increased by an amount equal to--
                                      ``(I) such dollar amount, 
                                  multiplied by
                                      ``(II) the automobile price 
                                  inflation adjustment determined under 
                                  section 280F(d)(7)(B)(i) for the 
                                  calendar year in which such taxable 
                                  year begins by substituting `2014' for 
                                  `1987' in subclause (II) thereof.
                          If any increase under the preceding sentence is 
                          not a multiple of $100, such increase shall be 
                          rounded to the nearest multiple of $100.
                      ``(E) Deduction allowed in computing minimum tax.--
                  For purposes of determining alternative minimum taxable 
                  income under section 55, the deduction under section 
                  167 for qualified property shall be determined without 
                  regard to any adjustment under section 56.''.
      (c) Effective Date.--The amendments made by this section shall 
  apply to property placed in service after December 31, 2014.
target: Fixed Asset Relief Act of 2015 This bill amends the Internal Revenue Code to increase the additional depreciation allowance (bonus depreciation) from 50% to 100% of the adjusted basis of qualifying business property and to make such increased allowance permanent. 
feat_title: Fixed Asset Relief Act of 2015