Solid Waste Energy Act

Summary

Solid Waste Energy Act - Provides that any expenditure, otherwise chargeable to a capital account, for the acquisition and installation of equipment for reduction of solid waste to a form suitable as an energy source shall be treated as a business expense of the current taxable year for purposes of a tax deduction under the Internal Revenue Code. Limits such tax deduction to the lesser of the taxpayer's pre-tax profit or $500,000. Allows a carryover of the undeducted excess to the next taxable year.

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Timeline

1. 10 October 1974

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 10 October 1974

   Introduced

   Introduced in House

   Source: IntroReferral

3. 10 October 1974

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 10 October 1974

  Open at official source

Sponsors

• Rep. Spence, Floyd [R-SC-2] · R · Sponsor
• · hswm00 · Standing

Related records

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