Amends the Internal Revenue Code to qualify for the full amount of the investment tax credit certain vessels (and a barge or container which is part of the complement of such vessel) financed by capital construction funds as established under the Merchant Marine Act of 1970. (Present law requires a reduction in the investment tax credit for vessels financed by capital construction funds.)
Introduced in Senate
Read twice and referred to the Committee on Finance.
Committee on Finance requested executive comment from OMB, Treasury Department.
Subcommittee on Taxation and Debt Management. Hearings held. Hearings printed: S.Hrg. 98-836.
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