Summary: H.R.5266 — 108th Congress (2003-2004)All Information (Except Text)

There is one summary for H.R.5266. Bill summaries are authored by CRS.

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Introduced in House (10/07/2004)

Amends the Internal Revenue Code to allow a tax credit for up to 20 percent of the basis of qualified woody biomass energy property placed in service in any taxable year. Defines "qualified woody biomass energy property" as new property which is used to produce electricity from woody biomass (e.g., trees and woody plant debris) placed in service before January 1, 2010, and which has a useful life of not less than five years.