Refinery Expansion Act of 2005

Summary

Refinery Expansion Act of 2005 - Amends the Internal Revenue Code to: (1) revise the tax deduction for certain liquid fuels refinery property to allow expensing of the entire cost of such property if the property allows for a production capacity increase of five percent or more on an average daily basis; (2) allow, in lieu of such expensing deduction, a five-year recovery period for the depreciation of such refinery property; (3) allow a seven-year recovery period for the depreciation of certain oil and gas distribution lines; and (4) allow a five-year recovery period for the depreciation of certain petroleum storage facilities.

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Timeline

1. 27 September 2005

   Introduced

   Introduced in House

   Source: IntroReferral

2. 27 September 2005

   Introduced

   Introduced in House

   Source: IntroReferral

3. 27 September 2005

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 27 September 2005 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 September 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 27 September 2005

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 27 September 2005

  Open at official source

Sponsors

• Rep. Tiahrt, Todd [R-KS-4] · R · Sponsor
• Rep. Ryun, Jim [R-KS-2] · R · Cosponsor
• Pete Sessions · R · Cosponsor
• Rep. Brown, Henry E., Jr. [R-SC-1] · R · Cosponsor
• Rep. McHugh, John M. [R-NY-23] · R · Cosponsor
• Rep. Paul, Ron [R-TX-22] · R · Cosponsor
• Rep. Moore, Dennis [D-KS-3] · D · Cosponsor
• F. SENSENBRENNER · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Refinery Investment Tax Assistance Act of 2005