A bill to amend the Internal Revenue Code of 1954 to provide reasonable and necessary income tax incentives to encourage the utilization of recycled solid waste materials and to offset existing income tax advantages which promote depletion of virgin natural resources.

Summary

Amends the Internal Revenue Code to allow a deduction for a percentage of the amounts paid by the taxpayer in acquiring recycled solid waste materials for manufacture by the taxpayer into raw materials or salable products. Permits the Administrator of the Environmental Protection Agency to suspend the deduction with respect to any specific recycled material. Provides an amortization deduction with respect to the amortizable basis of any solid waste recycling facility based on a 60 month period.

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Timeline

1. 4 January 1977

   Introduced

   Introduced in House

   Source: IntroReferral

2. 4 January 1977

   Introduced

   Introduced in House

   Source: IntroReferral

3. 4 January 1977

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 4 January 1977

  Open at official source

Sponsors

• Rep. Murphy, John M. [D-NY-17] · D · Sponsor
• · hswm00 · Standing

Related records

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