H.R. 3592 · 111th Congress
Plastics Recycling Act of 2009
- Stage
- In committee
- Sponsor
- Bill Pascrell
- Introduced
- 2009-09-17
- Latest action
- 2009-09-21 · Referred to the Subcommittee on Energy and Environment.
Summary
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.