Summary: S.1591 — 110th Congress (2007-2008)All Information (Except Text)

There is one summary for S.1591. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (06/12/2007)

Refinery Investment Tax Assistance Act of 2007 - Amends the Internal Revenue Code to allow: (1) for the expensing of the entire cost of certain liquid fuels refinery property (currently, only 50% of such cost can be expensed); and (2) a five-year recovery period for the depreciation of certain petroleum refining property.