A bill to prevent retroactive change in tax treatment of a qualified intermodal cargo container of a United States person and to clarify existing tax law by providing a general rule of nondiscriminatory application for investment tax credit and cost recovery purposes.

Prohibits the retroactive application of any interpretation or recordkeeping requirement pursuant to the Internal Revenue Code in connection with any investment tax credit or cost recovery deduction claimed by a taxpayer with respect to a qualified intermodal cargo container.

Treats such containers as used in the transportation of property to and from the United States.

Permits changes in the tax treatment of such containers only by future regulations that must: (1) apply prospectively only; and (2) treat these containers at least as favorably as other specified types of equipment used in international transportation.