H.R. 3924 · 109th Congress
Refinery Expansion Act of 2005
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
TiahrtSponsor7 cosponsors · 1 D, 6 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Refinery Expansion Act of 2005 - Amends the Internal Revenue Code to: (1) revise the tax deduction for certain liquid fuels refinery property to allow expensing of the entire cost of such property if the property allows for a production capacity increase of five percent or more on an average daily basis; (2) allow, in lieu of such expensing deduction, a…
What it does: CRS summary · Introduced in House · Sep 27, 2005
Refinery Expansion Act of 2005 - Amends the Internal Revenue Code to: (1) revise the tax deduction for certain liquid fuels refinery property to allow expensing of the entire cost of such property if the property allows for a production capacity increase of five percent or more on an average daily basis; (2) allow, in lieu of such expensing deduction, a five-year recovery period for the depreciation of such refinery property; (3) allow a seven-year recovery period for the depreciation of certain oil and gas distribution lines; and (4) allow a five-year recovery period for the depreciation of certain petroleum storage facilities.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Refinery Expansion Act of 2005
Latest action (Sep 27, 2005): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Sep 27, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.