Congressmen Kendrick B. Meek and Patrick J. Tiberi Introduce
Bipartisan Restaurant Depreciation Legislation

WASHINGTON, DC – Congressmen Kendrick B. Meek (D-FL-17) and Patrick J. Tiberi (R-OH-12) introduced bipartisan legislation on Wednesday to allow owner-occupied restaurants to depreciate qualified restaurant property on a 15-year schedule and to make permanent the qualified restaurant property depreciation rules at 15 years.

"In order to compete restaurants need to upgrade their facilities often. It makes no sense to force them to use a 39½ year depreciation schedule when they need to improve their property more often to stay in business and serve their customers," said Congressman Meek, who added, "It is also time to treat owner-occupied restaurants the same way as we treat leasehold restaurants, gas stations and convenience stores, who compete with the owner-occupied restaurants for business."

"This measure will level the playing field among restaurants, convenience stores, and gas stations while it simplifies and equalizes the tax code," said Congressman Tiberi. "Constant wear and tear on restaurants requires frequent upgrades and this bill will help these businesses better compete while creating more jobs in our communities."

Meek and Tiberi are joined by colleagues Representatives Shelly Berkley, Artur Davis, Phil English, Wally Herger, Stephanie Tubbs Jones, Ric Keller, Ed Perlmutter and Jon Porter. This bipartisan bill has been endorsed by the National Restaurant Association, the National Council of Chain Restaurants and the National Franchisee Association and the International Franchise Association.

This important legislation will help small restaurant owners, small business franchises and other restaurants to compete on an even playing field with a rationalized tax depreciation schedule that is based on their actual timeline for property improvements.

"As a Miami Restaurant owner, I'd like to thank Congressman Meek for helping the restaurant industry in this important endeavor," said Chef Allen Susser of Chef Allen's Restaurant in Miami, Fla. "Making this tax relief permanent will significantly help small restauranteurs such as myself when improving our facilities."

"Accelerated restaurant depreciation is arguably the most important issue impacting small business restaurant franchisees. I want to commend Congressman Meek and Congressman Tiberi for taking a leadership role on this critical issue," said Bert Srebrenik a restaurateur in Florida's 17th Congressional District.

U.S. Rep. Kendrick B. Meek represents the 17th Congressional District of Florida which includes parts of Miami-Dade and Broward Counties. He serves on the House Committee on Armed Services and is the lone Floridian sitting on the House Committee on Ways and Means.

U.S. Rep. Pat Tiberi sits on the Ways and Means Committee, the group that has jurisdiction over tax issues. He is also a member of the House Budget Committee. Congressman Tiberi is proudly serving Ohio's 12th Congressional District for his fourth term. The Central Ohio District is composed of Delaware County and parts of Franklin and Licking Counties.

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