A bill to amend the Internal Revenue Code to allow a special depreciation allowance for reuse and recycling property and to provide for tax-exempt financing of recycling equipment, and for other purposes.
Recycling Investment Saves Energy or the RISE Act - Amends the Internal Revenue Code to allow: (1) a first-year tax deduction of 50% of the adjusted basis of qualified reuse and recycling property; and (2) tax-exempt bond financing for recycling facilities. Defines "qualified reuse and recycling property" as property placed in service after December 31, 2006, which has a useful life of at least five years and which is used exclusively to collect, distribute, or recycle certain scrap materials.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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