HR 15108 · 93th Congress · Taxation

Oil Shale and Coal Conversion Facilities Tax Act

Introduced 1974-05-30· Sponsored by Rep. Perkins, Carl Dewey [D-KY-7]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-05-30)

Plain Language Summary

[AI summary unavailable — showing source text] Oil Shale and Coal Conversion Facilities Tax Act - Provides that a taxpayer may elect to deduct under the Internal Revenue Code the costs of new oil shale or coal conversion facilities over a 60 month period in order to provide incentives for the production of such new facilities. Provides for a fifteen percent depletion allowance in the case of coal converted into oil or gas.…

Summarized by Claude AI · Non-partisan · For informational purposes only