A bill to amend the Internal Revenue Code of 1986 to provide for bonus depreciation or an additional minimum tax credit in lieu of such bonus depreciation.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to: (1) increase from 30 to 50% the rate of the special depreciation allowance (bonus depreciation) for certain business equipment and assets placed in service in 2008; and (2) allow a corporation to elect to increase its alternative minimum tax credit by its bonus depreciation amount in lieu of applying such allowance.…