Official Summary

1/24/2007--Introduced.Investment in Energy Independence Act of 2006 [sic] - Amends the Internal Revenue Code to: (1) allow a tax credit for investment in coal-to-liquid fuels projects; (2) allow a taxpayer election to expense the cost of coal-to-liquid fuels process property and coal-fired

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Official Summary

1/24/2007--Introduced.
Investment in Energy Independence Act of 2006 [sic] - Amends the Internal Revenue Code to:
(1) allow a tax credit for investment in coal-to-liquid fuels projects;
(2) allow a taxpayer election to expense the cost of coal-to-liquid fuels process property and coal-fired facilities for the production of ethanol placed in service before 2016;
(3) extend the election to expense oil and alternative fuel refineries until 2016;
(4) include liquid fuel derived from oil shale extracted in the United States as an alternative fuel for excise tax purposes;
(5) extend the excise tax credit for alternative fuels through FY2020; and
(6) allow a 50% tax credit for enhanced oil recovery projects using qualified carbon dioxide.


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