A bill to amend the Internal Revenue Code of 1954 to provide that taxpayers may elect a twelve-month amortization period (in lieu of the sixty-month period) for any certified pollution control facility.

Amends the Internal Revenue Code to permit a taxpayer to elect a 12-month amortization period in lieu of the present 60-month period for any certified pollution control facility.

Reduces the investment tax credit rate for pollution control facilities for which the 12-month amortization period is elected.