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United States · Bill · S

S. 1234 (102nd)

A bill to amend the Internal Revenue Code of 1986 to provide tax relief to utilities installing acid rain reduction equipment.

referredUnited States· United States Congress· EN

Introduced

6 June 1991

Last action

6 June 1991 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Dixon, Alan J. [D-IL], Sen. Byrd, Robert C. [D-WV], Sen. Rockefeller, John D., IV [D-WV], Sen. Simon, Paul [D-IL], Sen. Specter, Arlen [R-PA], Sen. Ford, Wendell H. [D-KY], Sen. Bond, Christopher S. [R-MO], Sen. Coats, Daniel [R-IN], Sen. Shelby, Richard C. [R-AL], Sen. McConnell, Mitch [R-KY]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Amends the Internal Revenue Code to allow a tax credit for a three-year credit period for a percentage of the investment in acid rain control property installed to comply with sulfur dioxide emission limitations under the Clean Air Act. Allows the use of tax-exempt facility bonds to finance acid rain control property. Allows a business credit for a percentage of the expenditures paid or incurred for coal cleaning minerals used to remove or reduce the sulfur content of coal. Excludes from gross income the value of clean air allowances allocated to the taxpayer under the Clean Air Act. Allows a 60-month amortization of acid rain control property.

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

Timeline

  1. 6 June 1991

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 6 June 1991

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

2 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN

    ViewDownloadOpen at official source

  • Introduced in Senate

    summary · EN · 6 June 1991

    Open at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

Related records

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Sources

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