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.

3.0.0 824 2023-01-11T20:01:05Z 2023-01-11T20:01:05Z House H HR 2007-02-05 110 hswm00 Ways and Means Committee House Standing Referred to 2007-02-05T19:02:50Z 2007-02-05 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-02-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-02-05 Introduced in House IntroReferral 1000 9 Library of Congress W000273 Rep. Weller, Jerry [R-IL-11] GERALD WELLER R IL C. 11 N Taxation Agricultural wastes Agriculture and Food Alcohol as fuel Alternative energy sources Commerce Depreciation and amortization Diesel motor Energy Energy crops Environmental Protection Income tax Minimum tax Oils and fats Refuse as fuel Tax deductions Transportation and Public Works Taxation

00 2007-02-05 Introduced in House 2007-03-03T17:20:00Z 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).

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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. Official Title as Introduced 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. Introduced in House IH Display Title 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. Introduced in House 2007-02-05T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr824ih/xml/BILLS-110hr824ih.xml 2007-02-05 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.