S 2783
111th Congress
Senate
Taxation
Business investment and capital
Income tax credits
Income tax deductions
Oil and gas
A bill to amend the Internal Revenue Code of 1986 to provide incentives for used oil re-refining, and for other purposes.
Introduced: November 17, 2009
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 17, 2009
Read twice and referred to the Committee on Finance.
Nov 17, 2009
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to: (1) expand the definition of "qualified refinery" for purposes of the taxpayer election to expense the costs of refinery property to include refineries for processing non-virgin lube oil from used, refined products (including used lube oil originally derived from crude oil or qualified fuels); (2) extend through 2016 the expensing allowance with respect to such refineries; and (3) allow a business-related tax credit for the production of qualified re-refined lubricating oil.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1