S. 1781 · 109th Congress
Refinery Investment Tax Assistance Act of 2005
- Stage
- In committee
- Sponsor
- Orrin Hatch
- Introduced
- 2005-09-28
- Latest action
- 2005-09-28 · Introduced in Senate
Summary
Refinery Investment Tax Assistance Act of 2005 - 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.