A bill to amend the Internal Revenue Code of 1954 to allow the amortization of certain expenditures for safety equipment over a 5-year period.

Allows the amortization, under the Internal Revenue Code, of expenditures for safety equipment over a 5-year period. Provides that such deduction shall be in lieu of any depreciation deduction otherwise allowable for such expenditures.

Defines the applicable expenditures.