Washington.(JUST IN)

WASHINGTON -- A bipartisan bill introduced in the U.S. HOUSE OF REPRESENTATIVES Thursday could bring tax relief to many restaurants by reducing the depreciation schedule for new construction or improvements to existing structures. Sponsored by Reps. KENDRICK MEEK, D-Fla., and PAT TIBERI, R-Ohio, the bill would permanently reduce the current 39-and-a-half-year depreciation schedule to 15 years. Congress earlier had passed a temporary 15-year schedule for restaurant depreciation, but that expired in 2005. The restaurant industry has been …