Enhanced Energy Infrastructure and Technology Tax Act of 2005

Summary

Amends the Internal Revenue Code to: (1) assign a seven-year depreciation recovery period to natural gas gathering lines; (2) assign a 15-year depreciation recovery period to national gas distribution lines and certain electric transmission property; (3) allow a 60-month amortization period for certain atmospheric pollution control facilities; (4) classify the tax credit for producing fuel from a nonconventional source as a business tax credit; (5) modify rules for the funding of nuclear decommissioning costs; (6) exempt certain prepayments for natural gas from arbitrage bond rules; and (7) expand the definition of small refiner for proposes of the exemption from limitations on the oil depletion allowance. Allows a tax credit for: (1) residential solar hot water, photovoltaic, or fuel cell property; (2) investment in qualified fuel cell property; (3) investment in advanced lean burn technology motor vehicles; and (4) energy efficient improvements to existing residences. Reduces the motor fuel excise tax on certain water-based mixtures of diesel fuel. Allows a 24-month amortization period for delay rental payments for the development of oil and gas wells within the United States and for certain geological and geophysical expenditures for oil and gas exploration in the United States. Allows an offset against alternative minimum tax liability for: (1) the tax credit for residential solar hot water, photovoltaic, or fuel cell property and for energy efficient improvements to existing homes; and (2) certain business tax credits relating to energy properties.

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Documents

6 official files

• Reported in House (text)

  Reported in House · EN · 18 April 2005

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• Reported in House (PDF)

  Reported in House · EN · 18 April 2005

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• Reported to House with amendment(s)

  summary · EN · 18 April 2005

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• Introduced in House (text)

  Introduced in House · EN · 12 April 2005

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• Introduced in House (PDF)

  Introduced in House · EN · 12 April 2005

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• Introduced in House

  summary · EN · 12 April 2005

  Open at official source

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