A bill to amend the Internal Revenue Code of 1986 to provide incentives for used oil re-refining, and for other purposes.

Summary

Amends the Internal Revenue Code to: (1) expand the definition of "qualified refinery" for purposes of the taxpayer election to expense the costs of refinery property to include refineries for processing non-virgin lube oil from used, refined products (including used lube oil originally derived from crude oil or qualified fuels); (2) extend through 2016 the expensing allowance with respect to such refineries; and (3) allow a business-related tax credit for the production of qualified re-refined lubricating oil.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 November 2009

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 November 2009

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 17 November 2009

  Open at official source

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