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CAPITAL RECOVERY AND LEASING 987 Tax Lawyer, Vol. 56, No. 4CAPITAL RECOVERY AND LEASING SUBMITTED BY THE COMMITTEE ON CAPITAL RECOVERY AND LEASING: GREG RIDDLE, COMMITTEE CHAIR; YOUNG J. KIM, SUBCOMMITTEE CHAIR ON IMPORTANT DEVELOPMENTS* Legislation The Job Creation and Worker Assistance Act of 2002, Pub. L. No. 107-147, 116 Stat. 21 (hereinafter the “Act”), allows an additional first-year depreciation deduction (without requiring an adjustment for alternative minimum tax) equal to 30% of the...

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