HR 1054
102th Congress
House
Taxation
Acid rain
Air pollution control equipment
Coal
Depreciation and amortization
Environmental Protection
Income tax
Mines and mineral resources
Tax credits
Tax exclusion
Tax-exempt securities
Environmental Tax Credit Act of 1991
Introduced: February 21, 1991
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 21, 1991
Referred to the House Committee on Ways and Means.
Feb 21, 1991
Introduced in House
Plain-English summary
Environmental Tax Credit Act of 1991 - Amends the Internal Revenue Code to allow a tax credit for a three-year credit period for a percentage of the investment in acid rain control property installed to comply with sulfur dioxide emission limitations under the Clean Air Act.
Allows the use of tax-exempt facility bonds to finance acid rain control property.
Allows a business credit for a percentage of the expenditures incurred for coal cleaning minerals used to remove or reduce the sulfur content of coal.
Excludes from gross income the value of clean air allowances allocated to the taxpayer under the Clean Air Act.
Allows a 60-month amortization of acid rain control property.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1