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- S.1039
S.1039: Gas Price Reduction Through Increased Refinery Capacity Act of 2005
About This Bill
- This bill was introduced in the 109th Congress
- This bill is primarily about taxation
- Introduced May 16, 2005
- Latest Major Action May 16, 2005
Bill Sponsor
Bill Cosponsor
Bill Summary
Gas Price Reduction Through Increased Refinery Capacity Act of 2005 - Amends the Internal Revenue Code to allow taxpayers to elect to expense (i.e., deduct in the current taxable year) the cost of qualified refinery property placed in service before January 1, 2012, or under a binding construction contract before January 1, 2008. Requires that such refinery meet specified production levels and comply with all applicable environmental laws...
(Source: Library of Congress)
Bill Actions
| Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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| May 16, 2005 |
Introduced in the Senate by Orrin G. Hatch (R-Utah) |