A bill to amend the Internal Revenue Code of 1954 to permit the cost of property installed to meet the requirements of occupational safety standards relating to cotton dust to be treated as an expense.

Amends the Internal Revenue Code to allow a taxpayer to expense machinery and equipment placed in service after June 23, 1978, in connection with any plant or facility in operation before that date, used to meet any cotton dust standards issued by the Occupational Safety and Health Administration.