A bill to amend the Internal Revenue Code of 1954 to provide tax incentives for investment in small corporations doing research in the area of energy development and conservation.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow an income tax deduction for 50 percent (not to exceed $50,000 annually, or $100,000 altogether) of the sum of the amounts paid or incurred to acquire stock in a qualified energy invention corporation. Limits to $25,000 the maximum annual deduction in the case of a married individual filing a separate return. Defines a "qualified energy invention corporation" as a corporation whose gross annual income does not exceed $100,000 and which owns a patent, or the right to a patent, or has an application for a patent pending, which relates to the invention of an energy saving device or process, or which possesses a letter from the Secretary of the Department of Energy for nonpatentable improvements of such a device or process.…