A bill to amend the Internal Revenue Code of 1954 to repeal the requirement that operating capacity must increase for purposes of the energy credit allowed for intercity buses, and for other purposes.

Summary

Amends the Internal Revenue Code to repeal the requirement that the operating capacity of intercity buses must increase for such property to qualify for the investment tax credit. Treats a lessee of such property, in the case of an election with respect to applying the energy percentage, as having acquired the property for purposes of applying the energy percentage only.

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

Timeline

1. 6 May 1982

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 6 May 1982

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 11 May 1982

   Committee

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

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 6 May 1982

  Open at official source

Sponsors

• Sen. Mitchell, George J. [D-ME] · D · Sponsor
• Sen. Symms, Steven D. [R-ID] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to repeal the requirement that operating capacity must increase for purposes of the energy credit allowed for intercity buses, and for other purposes.