US SB2783 | 2009-2010 | 111th Congress

Status

Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on November 17 2009 - 25% progression, died in chamber
Action: 2009-11-17 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]

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.

Tracking Information

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Title

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

Sponsors


History

DateChamberAction
2009-11-17 Read twice and referred to the Committee on Finance.

Same As/Similar To

HB4242 (Same As) 2009-12-08 - Referred to the House Committee on Ways and Means.

Subjects


US Congress State Sources


Bill Comments

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