HR 4758
Steel Industry Preservation Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Steel Industry Preservation Act extends and modifies the production tax credit for steel industry fuel, which is coal or a blend of coal and petroleum coke. It extends the period for claiming the credit and allows for a broader definition of qualifying fuel. The bill also introduces an option for taxpayers to receive a higher tax credit instead of certain deductions, and clarifies rules regarding ownership and sales of the fuel. Finally, it exempts certain steel industry fuel production from economic substance rules.
Sponsors
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Primary sponsor
Michael F. Doyle
Cosponsors
Conor Lamb
David B. McKinley
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