HR 5659
110th Congress
House
Taxation
Commerce
Environmental Protection
Equipment and supplies
Income tax
Machinery
Manufacturing industries
Metals
Public Lands and Natural Resources
Recycling industry
Recycling of waste products
Tax credits
To amend the Internal Revenue Code of 1986 to allow a credit against income tax for recycling or remanufacturing equipment.
Introduced: March 31, 2008
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 31, 2008
Referred to the House Committee on Ways and Means.
Mar 31, 2008
Introduced in House
Plain-English summary
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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1