S 1234
102th Congress
Senate
Taxation
Acid rain
Air pollution control equipment
Air quality
Coal
Coal preparation
Depreciation and amortization
Environmental Protection
Income tax
Mines and mineral resources
Sulphur oxides
Tax credits
Tax exclusion
Tax-exempt securities
A bill to amend the Internal Revenue Code of 1986 to provide tax relief to utilities installing acid rain reduction equipment.
Introduced: June 6, 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
Jun 6, 1991
Read twice and referred to the Committee on Finance.
Jun 6, 1991
Introduced in Senate
Plain-English summary
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 paid or 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
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1