A bill to amend the Internal Revenue Code of 1954 to provide reasonable and necessary income tax incentives to encourage the utilization of recycled solid waste materials and to offset existing income tax advantages which promote depletion of virgin natural resources.

Summary

Allows specified percentage tax deductions under the Internal Revenue Code, for the cost of acquiring recycled solid waste materials during the taxable year. Provides, in lieu of any allowable depreciation deduction, for the amortization of the cost basis of solid waste recycling facilities over a period of 60 months.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 12 March 1975

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 12 March 1975

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 March 1975

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 12 March 1975

  Open at official source

Sponsors

• Rep. Cleveland, James C. [R-NH-2] · R · Sponsor
• · hswm00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to provide reasonable and necessary income tax incentives to encourage the utilization of recycled solid waste materials and to offset existing income tax advantages which promote depletion of virgin natural resources.