A bill to amend the Internal Revenue Code of 1954 to encourage the use of alcohol as an alternative fuel for motor vehicles by allowing the rapid amortization of facilities producing alcohol for use as such a fuel, and for other purposes.
Alcohol Fuel 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 facility producing alcohol from coal, wood, waste, or agricultural products for primary use as a motor fuel.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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