HR 5659

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To amend the Internal Revenue Code of 1986 to allow a credit against income tax for recycling or remanufacturing equipment.
Sponsor: Philip English (R) PA
 
Status: Active
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Summary:
3/31/2008--Introduced.Amends the Internal Revenue Code to allow a tax credit for investment in qualified reclamation property. Defines "qualified reclamation property" as tangible depreciable recycling or remanufacturing property with a useful life of at least five years. Limits the amount of such credit to 20% of the basis (not exceeding $10 million) of qualified reclamation property placed in service during a taxable year.
 
Text of Legislation:
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Actions Date
Action Text
3/31/2008
Referred to the House Committee on Ways and Means.
 
Titles:

To amend the Internal Revenue Code of 1986 to allow a credit against income tax for recycling or remanufacturing equipment.
 
Committee:

Referral, In Committee
 
Related Bill Details:

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