Alcohol Production Tax Incentive Act of 1979

Alcohol Production Tax Incentive Act of 1979 - Amends the Internal Revenue Code to allow a taxpayer to elect an income tax deduction with respect to the amortization, based on a 60 month period, of any qualified alcohol producing facility which is: (1) property of a character subject to the allowance for depreciation; (2) used as an integral part in the production of alcohol from coal, biomass, or agricultural products; (3) a research facility used in connection with such production; or (4) a facility used in connection with such production for the bulk storage of fungible commodities.