To amend the Internal Revenue Code of 1986 to allow an investment tax credit with respect to certain domestically produced business property.

Amends the Internal Revenue Code to allow an investment tax credit for domestically produced new business property of ten percent of the qualified investment in such property. Describes such property as: (1) tangible personal property (other than an air conditioning or heating unit); (2) certain other tangible property (not including a building and its structural components); (3) single purpose agricultural or horticultural structures; or (4) a storage facility (not including a building and its structural components) used in connection with the distribution of petroleum or primary petroleum products. Requires such property to be depreciable.