[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 701 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 701

  To amend the Internal Revenue Code of 1986 to provide a 25 percent 
             investment tax credit for recycling equipment.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 27, 1993

 Mr. Volkmer introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to provide a 25 percent 
             investment tax credit for recycling equipment.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. 25 PERCENT INVESTMENT TAX CREDIT FOR RECYCLING EQUIPMENT.

    (a) In General.--Subsection (a) of section 46 of the Internal 
Revenue Code of 1986 is amended by striking ``and'' at the end of 
paragraph (2), by striking the period at the end of paragraph (3) and 
inserting ``, and'', and by adding at the end thereof the following new 
paragraph:
            ``(4) in the case of recycling equipment (as defined in 
        section 48(l)(2)(A)(iv)), the recycling percentage.''
    (b) Recycling Percentage.--Subsection (b) of section 46 of such 
Code is amended by adding at the end thereof the following new 
paragraph:
            ``(5) Recycling percentage.--The term `recycling 
        percentage' means 25 percent.''
    (c) Effective Date.--The amendments made by this section shall 
apply to periods after December 31, 1993, under rules similar to the 
rules of section 48(m) of the Internal Revenue Code of 1986.

                                 <all>