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S. 1591, The Refinery Investment Tax Assistance Act of 2007 (1 comment ↓)
- This item is from the 110th Congress (2007-2008) and is no longer current.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.
S. 1591 would amend the Internal Revenue Code of 1986 to allow full expensing for the cost of qualified refinery property in the year in which the property is placed in service, and to classify petroleum refining property as 5-year property for purposes of depreciation.
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jambarama
June 13, 2007, 10:11pm (report abuse)Oh good, more corporate welfare for the most profitable industry in the world.