Fuel Adjustment Relief Act

[AI summary unavailable — showing source text] Fuel Adjustment Relief Act - States that there shall be allowed as a tax credit against income tax an amount equal to 50 percent of the increased residential electricity expenses paid or incurred by the taxpayer during the taxable year. Prescribes a method for computing for the taxable year the increased residential electricity expenses. States that the credit authorized by this Act shall apply to calendar years 1974 through 1978.…