Rev. Proc. 2023-15, page 806.

This revenue procedure provides a safe harbor method of accounting that taxpayers may use to determine whether expenses to repair, maintain, replace, or improve natural gas transmission and distribution property must be capitalized. To apply this safe harbor method, a taxpayer must first classify its natural gas transmission and distribution property as either linear property (for example, pipe, fittings, and valves) or non-linear property (for example, compressors, regulators, and meters). This revenue procedure then provides methods of accounting for each type of property, specifically, a safe harbor method used for the taxpayer’s linear transmission and distribution property and an optional safe harbor method that the taxpayer may choose to use

Finding Lists begin on page ii.

for its non-linear transmission and distribution property. The revenue procedure also provides procedures for obtaining automatic consent to change to the safe harbor method for linear property and the safe harbor method for non-linear property.

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