District Heating and Cooling Tax Incentives Act of 1982

[AI summary unavailable — showing source text] District Heating and Cooling Tax Incentives Act of 1982 - Amends the Internal Revenue Code to exempt from income taxation any interest earned on industrial development bonds issued to finance a district heating or cooling system. Defines "district heating or cooling system" as any system consisting of one or more heating or cooling sources which may be connected to a pipeline or network providing hot water, chilled water, or steam to two or more users for residential, commercial or industrial heating or cooling, or process steam. Defines "district heating or cooling property" as any equipment or other property used as an integral part of such a system. Qualifies district heating and cooling property for preferential investment tax credit treatment and for the residential energy conservation income tax credit. Exempts district heating or cooling property which is transferred to a governmental unit or tax-exempt organization from the recapture rules relating to prohibited dispositions of investment tax credit property. Treats district heating or cooling property as depreciable personal property for purposes of tax rules relating to the recapture of excess depreciation. Exempts from c…