To amend the Internal Revenue Code of 1986 to classify ethanol and biodiesel refining property as 7-year property for purposes of the accelerated cost recovery system.
About This Bill
Committee
Latest Action · February 5, 2007
Referred to the House Committee on Ways and Means.
Amends the Internal Revenue Code to allow accelerated cost recovery (i.e., a seven-year recovery period) for ethanol or biodiesel refining property. Defines "ethanol or biodiesel refining property" as property used to produce biodiesel and property used to produce ethanol other than from petroleum, natural gas, or coal (including lignite).
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.