26 U.S.C. § 179E — Election to expense advanced mine safety equipment

(a) Treatment as expenses A taxpayer may choose to treat 50 percent of the cost of "qualified advanced mine safety equipment property" as an expense, not a capital cost. The deduction is allowed in the year the property is placed in service. (b) Election (1) In general: the election is made on the tax return for that year, must name the specific equipment covered, and must follow the Secretary's rules. (2) Election irrevocable: once made, it cannot be canceled without the Secretary's consent. (c) Qualified advanced mine safety equipment property This means advanced mine safety equipment used in an underground U.S. mine that (1) is used by the taxpayer for the first time, and (2) is placed in service by the taxpayer after this section became law. (d) Advanced mine safety equipment property This covers five kinds of equipment: (1) Emergency communication technology letting a miner stay in constant contact with someone outside the mine. (2) Electronic tracking devices that let someone outside the mine track miners' locations and movements at all times. (3) Emergency oxygen-generating self-rescue devices that supply oxygen for at least 90 minutes. (4) Pre-positioned oxygen supplies that, combined with self-rescue devices, let every miner on a shift survive at least 48 hours if trapped or otherwise in need. (5) Comprehensive air-monitoring systems that check carbon monoxide, methane, and oxygen levels everywhere in the mine and can detect smoke from a fire. (e) Coordination with section 179 Costs already counted under a section 179 election cannot also be expensed under this section. (f) Reporting No deduction is allowed unless the taxpayer files a report with the Secretary giving the required information about its mine operations. (g) Termination This section does not apply to property placed in service after December 31, 2017.