A bill to amend the Internal Revenue Code of 1954 to provide that the energy percentage of investment tax credit shall be 20 percent for specially defined energy property, certain alternative energy property, recycling equipment, and qualified conservation property, and to allow refunds of the investment tax credit to the extent attributable to such 20 percent energy credit.
Industrial Energy Conservation Incentive Tax Act of 1980 - Amends the Internal Revenue Code to increase the investment tax credit energy percentage from ten to 20 percent for alternative energy property, specially defined energy property, and recycling equipment. Makes such credit refundable.
Provides for a refundable 20 percent investment tax credit for qualified conservation property. Defines "qualified conservation property" as property which is used by a taxpayer as an energy-saving modification to an existing industrial facility. Excludes public utility property from such definition.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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