HR 3924
109th Congress
House
Taxation
Capital gains tax
Commerce
Depreciation and amortization
Energy
Energy supplies
Gas pipelines
Income tax
Petroleum
Petroleum industry
Petroleum pipelines
Petroleum refineries
Petroleum storage
Tax administration
Tax deductions
Transportation and Public Works
Refinery Expansion Act of 2005
Introduced: September 27, 2005
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 27, 2005
Referred to the House Committee on Ways and Means.
Sep 27, 2005
Introduced in House
Plain-English summary
Refinery Expansion Act of 2005 - Amends the Internal Revenue Code to: (1) revise the tax deduction for certain liquid fuels refinery property to allow expensing of the entire cost of such property if the property allows for a production capacity increase of five percent or more on an average daily basis; (2) allow, in lieu of such expensing deduction, a five-year recovery period for the depreciation of such refinery property; (3) allow a seven-year recovery period for the depreciation of certain oil and gas distribution lines; and (4) allow a five-year recovery period for the depreciation of certain petroleum storage facilities.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1