Summary: H.R.5904 — 101st Congress (1989-1990)All Information (Except Text)

There is one summary for H.R.5904. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (10/23/1990)

Amends the Internal Revenue Code to allow a tax credit for a three-year credit period for a percentage of the investment in acid rain control property installed to comply with sulfur dioxide emission limitations under the Clean Air Act.

Allows the use of tax-exempt facility bonds to finance acid rain control property.

Allows a business credit for a percentage of the expenditures paid or incurred for coal cleaning minerals used to remove or reduce the sulfur content of coal.

Excludes from gross income the value of clean air allowances allocated to the taxpayer under the Clean Air Act.

Allows a 60-month amortization of acid rain control property.