SECTION 1. PURPOSE

This revenue procedure provides the exclusive procedure for making the election under § 1120 of the Small Business Job Protection Act of 1996 (the Act) to treat a retail motor fuels outlet placed in service before August 20, 1996, as 15year property under § 168 of the Internal Revenue Code. The election set forth in this revenue procedure is available only for the taxpayer’s taxable year that includes August 20, 1996, the date of enactment of the Act.