H.R. 6612 · 110th Congress
To amend the Internal Revenue Code of 1986 to increase and make permanent the election to expense certain refineries.
- Stage
- In committee
- Sponsor
- Donald Cazayoux
- Introduced
- 2008-07-24
- Latest action
- 2008-07-24 · Introduced in House
Summary
Amends the Internal Revenue Code to increase the expensing allowance for qualified refinery property from 50 to 100% of its cost for property placed in service after July 15, 2008, and before January 1, 2012. Makes permanent the 50% expensing allowance for such property.