To amend the Internal Revenue Code of 1986 to classify ethanol and biodiesel refining property as 7-year property for purposes of the accelerated cost recovery system.

referredUnited States· United States Congress· EN

Introduced

5 February 2007

Last action

—

Status

Referred to the House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to allow accelerated cost recovery (i.e., a seven-year recovery period) for ethanol or biodiesel refining property. Defines "ethanol or biodiesel refining property" as property used to produce biodiesel and property used to produce ethanol other than from petroleum, natural gas, or coal (including lignite).

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Documents

3 official files

Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN · 5 February 2007
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Introduced in House (PDF)
Introduced in House · EN · 5 February 2007
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Introduced in House
summary · EN · 5 February 2007
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Sources

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Official source: https://www.congress.gov/bill/110th-congress/house-bill/824
Open data entity: https://api.congress.gov/v3/bill/110/hr/824