A bill to amend the Internal Revenue Code of 1954 to provide income tax incentives to improve the economics of recycling waste paper.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow an income tax credit of $10 for each ton of waste paper which is recycled by the taxpayer. Allows a 100 percent credit up to $25,000 and a 50 percent credit for expenses in excess of $25,000. Permits a carryback of three years and a carryover of seven years of any amount of the tax credit which exceeds applicable limits in the year in which it is claimed.…