A bill to amend the Internal Revenue Code of 1954 to allow, in lieu of the amortization of amounts for pollution control facilities, a deduction in the year in which such amounts are paid or incurred.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to permit a taxpayer election to treat expenditures for pollution control facilities as a currently deductible expense (amortizable over a period of 60 months under existing law).…