S. 1591 · 110th Congress
Refinery Investment Tax Assistance Act of 2007
- Stage
- In committee
- Sponsor
- Orrin Hatch
- Introduced
- 2007-06-12
- Latest action
- 2007-06-12 · Introduced in Senate
Summary
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.