District Heating and Cooling Tax Incentives Act of 1987

Summary

District Heating and Cooling Tax Incentives Act of 1987 - Amends the Internal Revenue Code to allow an investment tax credit for district heating or cooling property. Defines "district heating or cooling property" as any equipment or other property used as an integral part of a district heating or cooling system. Exempts district heating or cooling property which is transferred to a governmental unit or tax-exempt organization from the recapture rules relating to prohibited dispositions of investment tax credit property. Classifies district heating or cooling property as five-year property for purposes of depreciation under the accelerated cost recovery system. Excludes obligations for local district heating or cooling facilities from the volume cap on private activity bonds.

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1 official file

• Introduced in House

  summary · EN · 20 January 1987

  Open at official source

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