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.
Introduced
6 June 1991
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
3 January 2025
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.
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Timeline
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Votes
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Versions
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Documents
2 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN
Introduced in Senate
summary · EN · 6 June 1991
Sponsors
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Related records
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/102nd-congress/senate-bill/1234
- Open data entity: https://api.congress.gov/v3/bill/102/s/1234