A bill to amend the Internal Revenue Code of 1954 to permit the accelerated depreciation of property placed in service in areas of high unemployment.

Amends the Internal Revenue Code to allow taxpayers to amortize over 60 months, or in the case of a building, over one-half of its useful life, property placed in service after December 31, 1976, and before January 1, 1980, in an area in which the rate of unemployment is seven percent or greater.