S 1627
Steel Industry Preservation Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Steel Industry Preservation Act extends and modifies the production tax credit (PTC) for refined coal used as ‘steel industry fuel.’ It lengthens the credit period, allows for blends of coal and petroleum coke, and clarifies ownership rules. Taxpayers producing this fuel can elect to receive a larger tax credit instead of traditional deductions, and the bill includes provisions to ensure the credit is properly accounted for in the alternative minimum tax and exempts related transactions from certain tax restrictions.
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Primary sponsor
Cosponsors
Debbie Stabenow
Rob Portman
Robert P., Jr. Casey
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