Pollution Control Act

Pollution Control Act - Permits taxpayers, under the Internal Revenue Code, to elect to deduct ratably over a period of three years any certified pollution control expenditure paid or incurred within the taxable year. States that such deduction shall be in lieu of any depreciation deduction otherwise allowable.

Defines "certified pollution control expenditure" as meaning any amount paid or incurred by the taxpayer before January 1, 1980, for the construction, reconstruction, erection, or acquisition of a new identifiable treatment facility which is used in connection with a plant or other property in operation before January 1, 1974, to abate or control water or atmospheric pollution or contaminants.