H.R. 5372, The Recycling Investment Saves Energy

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

Version saved on February 17, 2008, 18:32:29, by webmaster:

H.R. 5372 would amend the Internal Revenue Code to allow a special depreciation allowance for reuse and recycling property.

Detailed Summary

Recycling Investment Saves Energy or the RISE Act - Amends the Internal Revenue Code to allow a first-year tax deduction of 50% of the adjusted basis of qualified reuse and recycling property. Defines "qualified reuse and recycling property" as property placed in service after December 31, 2006, which has a useful life of at least five years and which is used exclusively to collect, distribute, or recycle certain scrap materials.

Status of the Legislation

Latest Major Action: 2/12/2008: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

(Log in to edit the wiki and be the first to show why the bill should pass!)

Points Against

(Log in to edit the wiki and be the first to show why the bill should not pass!)

« Return to Revision History.