H.R.5659 - To amend the Internal Revenue Code of 1986 to allow a credit against income tax for recycling or remanufacturing equipment.

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  • Official: To amend the Internal Revenue Code of 1986 to allow a credit against income tax for recycling or remanufacturing equipment. as introduced.

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Introduced
 
House
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Senate
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President
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03/30/08
 
 
 
 
 
 
 

Official Summary

3/31/2008--Introduced.Amends the Internal Revenue Code to allow a tax credit for investment in qualified reclamation property. Defines "qualified reclamation property" as tangible depreciable recycling or remanufacturing property with a useful life of at least five years. Limits

Official Summary

3/31/2008--Introduced.
Amends the Internal Revenue Code to allow a tax credit for investment in qualified reclamation property. Defines "qualified reclamation property" as tangible depreciable recycling or remanufacturing property with a useful life of at least five years. Limits the amount of such credit to 20% of the basis (not exceeding $10 million) of qualified reclamation property placed in service during a taxable year.

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