Election to expense advanced mine safety equipment

A taxpayer may elect to treat 50 percent of the cost of any qualified advanced mine safety equipment property as an expense which is not chargeable to capital account. Any cost so treated shall be allowed as a deduction for the taxable year in which the qualified advanced mine safety equipment property is placed in service. An election under this section for any taxable year shall be made on the taxpayer’s return of the tax imposed by this chapter for the taxable year. Such election shall specify the advanced mine safety equipment property to which the election applies and shall be made in such manner as the Secretary may by regulations prescribe. Any election made under this section may not be revoked except with the consent of the Secretary. For purposes of this section, the term “qualified advanced mine safety equipment property” means any advanced mine safety equipment property for use in any underground mine located in the United States— For purposes of this section, the term “advanced mine safety equipment property” means any of the following: No expenditures shall be taken into account under subsection (a) with respect to the portion of the cost of any property specified in an election under section 179. No deduction shall be allowed under subsection (a) to any taxpayer for any taxable year unless such taxpayer files with the Secretary a report containing such information with respect to the operation of the mines of the taxpayer as the Secretary shall require. This section shall not apply to property placed in service after December 31, 2017.