Climate Change Investment Act of 2006

Summary

Climate Change Investment Act of 2006 - Repeals provisions of the Internal Revenue Code allowing: (1) an election to expense the cost of certain liquid fuel processing refineries; (2) accelerated amortization of geological and geophysical expenditures; (3) a tax credit for enhanced oil recovery costs; (4) a tax credit for the production of low sulfur diesel fuel; (5) a tax credit for producing fuel from a nonconventional source; (6) a tax deduction for capital costs incurred in complying with certain sulfur regulations; (7) a tax deduction for intangible drilling and development costs for oil and gas wells and geothermal wells; and (8) tax deductions for certain oil and gas well expenditures. Allows a business-related tax credit for investment in a greenhouse gas intensity reduction project approved by the Secretary of Energy.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 December 2006

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• Introduced in House (PDF)

  Introduced in House · EN · 7 December 2006

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• Introduced in House

  summary · EN · 7 December 2006

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