An original bill to exclude from gross income certain clean coal power grants to non-corporate taxpayers.

Summary

This bill excludes from gross income, for income tax purposes, any amount received by a non-corporate taxpayer as a clean coal power grant, award, or allowance under the Energy Policy Act of 2005. To the extent that such grant, award, or allowance is related to depreciable property, the adjusted basis of such property is reduced by the amount excluded from gross income. Each non-corporate taxpayer allowed a tax exclusion under this Act must make a payment to the federal government of 1.18% of the value of the grant, award, or allowance received.

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Documents

4 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN · 14 April 2015

  ViewDownloadOpen at official source

• Placed on Calendar Senate (PDF)

  Placed on Calendar Senate · EN · 14 April 2015

  ViewDownloadOpen at official source

• Reported to Senate without amendment

  summary · EN · 14 April 2015

  Open at official source

• Introduced in Senate

  summary · EN · 14 April 2015

  Open at official source

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