Coal Utilization Incentives Act of 1981

[AI summary unavailable — showing source text] Coal Utilization Incentives Act of 1981 - Title I: Amendments to the Internal Revenue Code of 1954 - Amends the Internal Revenue Code to permit the amortization of coal utilization property, based on a 36- month period. Defines "coal utilization property" as tangible, depreciable property which is: (1) a boiler or burner, the primary fuel for which will be coal; or (2) pollution control equipment required for such boiler or burner; or (3) coal cleaning equipment. Allows an investment tax credit to public utilities for coal utilization property. Qualifies coal utilization property for the full investment tax credit allowed for pollution control facilities with a useful life of not less than five years. Excludes from gross income the interest income on industrial development bonds issued to provide financing of powerplant coal utilization capital expenditures. Title II: Coal Conversions Under the Clean Air Act - Amends the Clean Air Act to exclude as a modification a stationary source which voluntarily converts to coal (thereby excluding the source from new source performance standards).…