To amend the Internal Revenue Code of 1986 to allow a credit against income tax for recycling or remanufacturing equipment.

Summary

Amends the Internal Revenue Code to allow a tax credit for investment in qualified reclamation property. Defines "qualified reclamation property" as tangible depreciable recycling or remanufacturing property with a useful life of at least five years. Limits the amount of such credit to 20% of the basis (not exceeding $10 million) of qualified reclamation property placed in service during a taxable year.

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Timeline

1. 31 March 2008

   Introduced

   Introduced in House

   Source: IntroReferral

2. 31 March 2008

   Introduced

   Introduced in House

   Source: IntroReferral

3. 31 March 2008

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 31 March 2008 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 31 March 2008

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 31 March 2008

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 31 March 2008

  Open at official source

Sponsors

• Rep. English, Phil [R-PA-3] · R · Sponsor
• Pete Sessions · R · Sponsor
• Rep. Walsh, James T. [R-NY-27] · R · Sponsor
• STEVE CHABOT · R · Sponsor
• Rep. Wilson, Joe [R-SC-2] · R · Sponsor
• F. SENSENBRENNER · R · Sponsor
• Rep. Paul, Ron [R-TX-22] · R · Cosponsor
• · hswm00 · Standing

Related records

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