§179E Election to expense advanced mine safety equipment

Summary

Lets a taxpayer treat 50 percent of the cost of certain mine-safety equipment as an expense and deduct that amount in the year the equipment is put into use. It only works for equipment used in underground mines in the United States whose first use starts with the taxpayer and that was placed in service after the law was passed. The rule does not apply to property placed in service after December 31, 2017. The election must be made on the taxpayer’s tax return, must say which equipment it covers, and must follow rules the Secretary creates. The election can’t be revoked without the Secretary’s permission. The deduction can’t cover costs already claimed under section 179. The taxpayer must file a report about mine operations with the Secretary to get the deduction. Covered equipment types (one line each): emergency communication devices (constant contact with someone outside), electronic ID/location trackers, self-rescue oxygen devices lasting at least 90 minutes, pre-positioned oxygen supplies that help miners survive at least 48 hours with self-rescue devices, and comprehensive atmospheric monitors for carbon monoxide, methane, oxygen, and smoke.