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

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

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

feedback