H.R. 5918 · 111th Congress

To amend the Internal Revenue Code of 1986 to provide an investment tax credit for biomass heating property and repeal the passive activity limitation exception for working interests in oil and gas property.

Stage
In committee
Sponsor
Paul Hodes
Introduced
2010-07-29
Latest action
2010-07-29 · Introduced in House

Summary

Amends the Internal Revenue Code to: (1) allow a 30% energy tax credit for investment in certain biomass heating property for periods ending before January 1, 2014; and (2) repeal the exemption from passive activity rules for working interests in oil or gas property.