A bill to amend the Internal Revenue Code of 1954 to allow an itemized deduction for certain amounts expended for marine sanitation devices which comply with the Federal Water Pollution Control Act.

Summary

Allows a tax deduction under the Internal Revenue Code equal to fifty percent of any amount paid during the taxable year for the purchase or installation of any marine sanitation device which complies with the regulations of the Federal Water Pollution Control Act. Makes this deduction applicable only to amounts paid after the date of enactment, or after the date on which the Federal Water Pollution Control Act's regulations are promulgated, whichever is later. (Amends 26 U.S.C. 219)

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Documents

1 official file

• Introduced in House

  summary · EN · 24 January 1973

  Open at official source

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