S. 1060 — A bill to amend the Internal Revenue Code of 1986 to provide a tax credit to businesses which mine metallurgical coal and are required to make contributions to the UMWA Combined Benefit Fund created by the Energy Policy Act of 1992.

Summary

Amends the Internal Revenue Code to allow a general business credit for metallurgical coal mining. Declares such credit to consist of: (1) the lesser of a percentage of coal industry health benefit premiums; or (2) a percentage of the sale of metallurgical coal. Allows such credit to offset a percentage of the minimum tax.

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Related Legislation

H.R. 1443To amend the Internal Revenue Code of 1986 to provide a tax credit to businesses which mine metallurgical coal and are required to make contributions to the UMWA Combined Benefit Fund created by the Energy Policy Act of 1992.
1993-03-31Sponsor introductory remarks on measure. (CR E853)
Related

Legislative Actions

1993-05-28
Introduced in Senate
1993-05-28
Read twice and referred to the Committee on Finance.

A bill to amend the Internal Revenue Code of 1986 to provide a tax credit to businesses which mine metallurgical coal and are required to make contributions to the UMWA Combined Benefit Fund created by the Energy Policy Act of 1992.

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