To amend the Internal Revenue Code of 1986 to decrease the class life for petroleum refinery property placed in service to comply with petroleum product specifications as promulgated by rule by the Administrator of Environmental Protection Agency under, and to provide compliance with refinery site, terminal, and other infrastructure air emissions requirements under, the Clean Air Act.

referredUnited States· United States Congress· EN

Introduced

2 August 2001

Last action

2 August 2001 · Introduced

Status

Referred to the House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code of 1986, with respect to the accelerated cost recovering system for the depreciation deduction for tangible property, to classify as five-year property (with a class life of over four but less than ten years) petroleum refinery compliance property that has been upgraded in compliance with: (1) petroleum product specifications promulgated by the Administrator of the Environmental Protection Agency; or (2) refinery site, terminal, and other infrastructure air emissions requirements under the Clean Air Act.

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Timeline

2 August 2001
Introduced
Referred to the House Committee on Ways and Means.
Source: IntroReferral
2 August 2001
Introduced
Introduced in House
Source: IntroReferral
2 August 2001
Introduced
Introduced in House
Source: IntroReferral

Votes

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Versions

Introduced in House · 2 August 2001 · Download file

Documents

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Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN · 2 August 2001
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Introduced in House (PDF)
Introduced in House · EN · 2 August 2001
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Introduced in House
summary · EN · 2 August 2001
Open at official source
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Related records

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Sources

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Official source: https://www.congress.gov/bill/107th-congress/house-bill/2741
Open data entity: https://api.congress.gov/v3/bill/107/hr/2741
us · 107-hr-2741 · source updated 2 January 2025