US Congress House Bill 497 (Prior Session Legislation)

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January 14 2009 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Amends the Internal Revenue Code to allow a tax credit for 50% of the cost of qualified advanced mine safety equipment property (in lieu of the existing taxpayer election to expense 50% of such property in the current taxable year). Defines such property to include: (1) an emergency communication technology or device for constant communication with individuals outside the mine; (2) an electronic identification and location device; (3) an emergency oxygen-generating device; (4) pre-positioned oxygen supplies; and (5) a comprehensive atmospheric monitoring system to monitor levels of carbon monoxide and other gases present in a mine.Revises the tax credit for mine rescue team training expenses to: (1) increase the amount of such credit; (2) allow such credit as an offset against the alternative minimum tax; and (3) make such credit permanent.

To amend the Internal Revenue Code of 1986 to provide incentives for improving mine safety.

Rep Paul, Ron	Rep Ellsworth, Brad	Rep Rahall, Nick J., II	Rep Wilson, Charles A.
Rep Rogers, Harold

Date	Chamber	Action
2009-01-14		Referred to the House Committee on Ways and Means.

Type	Source
Summary	http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HN00497:@@@L&summ2=m&
Text	http://gpo.gov/fdsys/pkg/BILLS-111hr497ih/pdf/BILLS-111hr497ih.pdf