A bill to amend the Internal Revenue Code of 1954 to provide that the amount of depreciation deduction with respect to any property for a taxable year shall be an amount selected by the taxpayer.

Amends the Internal Revenue Code to allow a taxpayer to select the amount of the depreciation deduction for a taxable year applicable to business property placed in service after December 31, 1980, provided that the investment tax credit with respect to such property is computed in accordance with specified standards.