SECTION 3. MODIFICATION OF

SECTION 3.20 OF REV. PROC. 2007–66

To reflect the statutory changes made to § 179 by § 102 of the Stimulus Act, section 3.20 of Rev. Proc. 2007–66 is modified to read as follows:

.20 Election to Expense Certain Depre- ciable Assets. For any taxable year beginning in 2008, under § 179(b)(1) the aggregate cost of any § 179 property a taxpayer may elect to treat as an expense cannot exceed $250,000. Under § 179(b)(2) the $250,000 limitation is reduced (but not below zero) by the amount by which the cost of § 179 property placed in service during the 2008 taxable year exceeds $800,000.