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Energy and Environment Tax Act of 1993

Read twice and referred to the Committee on Finance.

Official summary

Version 00 · Introduced in Senate · Nov 20, 1993

TABLE OF CONTENTS: Title I: Incentives for Renewable Energy Resources Title II: Incentives to Promote Energy Conservation Energy and Environment Tax Act of 1993 - Title I: Incentives for Renewable Energy Resources - Amends the Internal Revenue Code to allow a portion of the alcohol fuels credit to offset the tentative minimum tax. Allows the use of energy tax credits when computing the regular tax and the alternative minimum tax. Allows an alcohol fuels credit for the production of biodiesel fuel. Excludes from gross income the alcohol fuels credit attributable to biodiesels and certain ethanol-based ethers. Includes certain small wind turbine equipment as energy property for purposes of the energy credit. Title II: Incentives to Promote Energy Conservation - Allows electric or gas utilities a deduction for energy conservation expenditures. Makes certain trucks, vans, and buses ineligible for the credit for electric vehicle costs. Allows taxpayers primarily engaged in a farming-related business an investment tax credit for a percentage of: (1) the costs of agricultural environmental property; and (2) the amount allowed as a deduction for soil and water conservation expenditures. Extends the existing deduction for the cost of pollution abatement property to plants or property in operation before January 1, 1994. (Current provision only applies to plants or property in operation before January 1, 1976.)

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Who introduced it

Sen. Daschle, Thomas A. [D-SD] · D–SD

Committees

  • Finance Committee
0 cosponsorship records, including any withdrawals

    Actions

    A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

    1. Read twice and referred to the Committee on Finance.

    2. Sponsor introductory remarks on measure. (CR S16719-16721)

    3. Introduced in Senate

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