H.R. 4835 · 109th Congress
To amend the Internal Revenue Code of 1986 to provide tax relief to promote investments in mine safety.
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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.
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EnglishSponsorNo cosponsors.
Amends the Internal Revenue Code to allow a taxpayer election to expense (i.e., deduct in the current taxable year) 50% of the cost of qualified advanced mine safety equipment property.
What it does: CRS summary · Introduced in House · Mar 1, 2006
Amends the Internal Revenue Code to allow a taxpayer election to expense (i.e., deduct in the current taxable year) 50% of the cost of qualified advanced mine safety equipment property. Defines such property to include: (1) an emergency communication technology or device for constant communication with individuals outside the mine; (2) an electronic identification and location device; (3) an emergency oxygen-generating device; (4) pre-positioned oxygen supplies; and (5) a comprehensive atmospheric monitoring system to monitor levels of carbon monoxide and other gases present in a mine.
Allows employers a business-related tax credit for the lesser of 20% of the training costs of their qualified mine rescue team employees or $10,000 for each such employee. Defines such an employee as one who receives a certain level of mine safety training as prescribed by the Mine Safety and Health Administration. Terminates such credit after 2008.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to provide tax relief to promote investments in mine safety.
Latest action (Mar 1, 2006): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Mar 1, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.