H.R.3592 - Plastics Recycling Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. Pascrell, Bill, Jr. [D-NJ-8] (Introduced 09/17/2009)|
|Committees:||House - Ways and Means; Energy and Commerce|
|Latest Action:||House - 09/21/2009 Referred to the Subcommittee on Energy and Environment. (All Actions)|
This bill has the status Introduced
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Summary: H.R.3592 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in House (09/17/2009)
Plastics Recycling Act of 2009 - Amends the Internal Revenue Code to allow a business-related tax credit equal to 60 cents per gallon of qualified synthetic oil produced from recycled waste plastics. Defines "qualified synthetic oil" as oil derived from post-consumer and post-industrial waste plastics and which has a minimum market value of 90% of crude oil.
Directs the Secretary of the Treasury to make grants to persons eligible for the waste plastic recycling tax credit provided by this Act in lieu of such credit.