A bill to amend the Internal Revenue Code of 1954 to limit the application of the subsidized energy financing limitations on certain tax credits to Federal subsidies, and for other purposes.

Summary

Amends the Internal Revenue Code to remove from the subsidized energy financing limitation, for purposes of determining expenditures which qualify for the residential energy credit and the investment tax credit, energy financing received under State or local programs. Removes industrial development bond proceeds from the formula for reducing the qualified investment in energy property for purposes of the investment tax credit.

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Timeline

1. 8 July 1981

   Committee

   Subcommittee on Energy and Agricultural Taxation took the following actions.

   Source: Committee

2. 8 July 1981

   Introduced

   Read second time and referred to Senate Committee on Finance.

   Source: IntroReferral

3. 8 July 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

4. 20 July 1981

   Committee

   Committee on Finance requested executive comment from OMB; Treasury Department; Energy Department.

   Source: Committee

5. 11 December 1981

   Committee

   Subcommittee on Energy and Agricultural Taxation. Hearings held.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 8 July 1981

  Open at official source

Sponsors

• Sen. Packwood, Bob [R-OR] · R · Sponsor
• · ssfi00 · Standing

Related records

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