[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3955 Introduced in House (IH)]







104th CONGRESS
  2d Session
                                H. R. 3955

To amend the Internal Revenue Code of 1986 to allow a refundable credit 
               to businesses which recycle office wastes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 2, 1996

   Mr. Fox of Pennsylvania 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 allow a refundable credit 
               to businesses which recycle office wastes.

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

SECTION 1. REFUNDABLE CREDIT FOR BUSINESSES WHICH RECYCLE OFFICE 
              WASTES.

    (a) In General.--Subpart C of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 (relating to refundable credits) 
is amended by redesignating section 35 as section 36 and by inserting 
after section 34 the following new section:

``SEC. 35. CREDIT FOR RECYCLING OFFICE WASTES.

    ``(a) Allowance of Credit.--In the case of a taxpayer engaged in a 
trade or business, there shall be allowed as a credit against the tax 
imposed by this subtitle for the taxable year an amount equal to 3 
cents for each pound of office waste recycled by the taxpayer during 
the taxable year.
    ``(b) Office Waste.--For purposes of this section, the term `office 
waste' means glass, paper, cardboard, metal cans, and other office-
related products which are used in a trade or business conducted by the 
taxpayer.''
    (b) Clerical Amendment.--The table of sections for such subpart C 
is amended by striking the last item and inserting the following new 
items:

                              ``Sec. 35. Credit for recycling office 
                                        wastes.
                              ``Sec. 36. Overpayments of tax.''
    (c) Effective Date.--The amendments made by this section shall 
apply to substances recycled after the date of the enactment of this 
Act in taxable years ending after such date.
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