Small Business Pollution Prevention and Opportunity Act

Small Business Pollution Prevention and Opportunity Act - Amends the Internal Revenue Code to establish a dry cleaning equipment credit for any taxable year equivalent to 20 percent of the basis of each qualified dry cleaning property placed in service during the year which is designed primarily to dry clean clothing and other fabric if: (1) such equipment does not use any hazardous solvent (a chlorinated or petroleum-based solvent, or any other hazardous or regulated substance) as the primary process solvent; (2) the original use of such property commences with the taxpayer; and (3) with respect to which depreciation (or amortization in lieu of depreciation) is allowable.

Excludes from the meaning of hazardous solvent any solvent: (1) not more than ten percent of which consists of petroleum or petroleum derivatives; and (2) which does not contain any substance determined by any appropriate Federal agency to possess carcinogenic potential in humans or bioaccumulative properties.