Volume 150, No. 49 covering the 2nd Session of the 108th Congress (2003 - 2004) was published by the Congressional Record.
The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
“TEXT OF AMENDMENTS” mentioning the Environmental Protection Agency was published in the Senate section on pages S4058 on April 8, 2004.
The publication is reproduced in full below:
TEXT OF AMENDMENTS
SA 3044. Mr. FRIST (for Mr. Nelson of Florida) proposed an amendment to the resolution S. Res. 328, expressing the sense of the Senate regarding the continued human rights violations committed by Fidel Castro and the Government of Cuba; as follows:
On page 7, line 20, strike ``commission'' and insert
``committee''.
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SA 3045. Mr. FRIST (for Mr. Voinovich) proposed an amendment to the bill S. 129, to provide for reform relating to Federal employment, and for other purposes; as follows:
On page 48, line 19, insert ``in the first sentence,'' after ``paragraph (2),''.
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SA 3046. Mr. ALEXANDER (for himself and Mr. Conrad) submitted an amendment intended to be proposed by him to the bill S. 1637, to amend the Internal Revenue Code of 1986 to comply with the World Trade Organization rulings on the FSC/ETI benefit in a manner that preserves jobs and production activities in the United States, to reform and simplify the international taxation rules of the United States, and for other purposes; which was ordered to lie on the table; as follows:
On page 179, after line 25, add the following:
SEC. __. CREDIT FOR QUALIFYING POLLUTION CONTROL EQUIPMENT.
(a) Allowance of Qualifying Pollution Control Equipment Credit.--Section 46 (relating to amount of credit) is amended by striking ``and'' at the end of paragraph (2), by striking the period at the end of paragraph (3) and inserting ``, and'', and by adding at the end the following new paragraph:
``(4) the qualifying pollution control equipment credit.''.
(b) Amount of Qualifying Pollution Control Equipment Credit.--Subpart E of part IV of subchapter A of chapter 1
(relating to rules for computing investment credit) is amended by inserting after section 48 the following new section:
``SEC. 48A. QUALIFYING POLLUTION CONTROL EQUIPMENT CREDIT.
``(a) In General.--For purposes of section 46, the qualifying pollution control equipment credit for any taxable year is an amount equal to 15 percent of the basis of the qualifying pollution control equipment placed in service at a qualifying facility during such taxable year.
``(b) Qualifying Pollution Control Equipment.--For purposes of this section, the term `qualifying pollution control equipment' means any technology installed in or on a qualifying facility to reduce air emissions of any pollutant regulated by the Environmental Protection Agency under the Clean Air Act, including thermal oxidizers, regenerative thermal oxidizers, scrubber systems, evaporative control systems, vapor recovery systems, flair systems, bag houses, cyclones, continuous emissions monitoring systems, and low nitric oxide burners.
``(c) Qualifying Facility.--For purposes of this section, the term `qualifying facility' means any facility which produces not less than 1,000,000 gallons of ethanol during the taxable year.
``(d) Special Rule for Certain Subsidized Property.--Rules similar to section 48(a)(4) shall apply for purposes of this section.
``(e) Certain Qualified Progress Expenditures Rules Made Applicable.--Rules similar to the rules of subsections (c)(4) and (d) of section 46 (as in effect on the day before the enactment of the Revenue Reconciliation Act of 1990) shall apply for purposes of this subsection.''.
(c) Recapture of Credit Where Emissions Reduction Offset is Sold.--Paragraph (1) of section 50(a) is amended by redesignating subparagraph (B) as subparagraph (C) and by inserting after subparagraph (A) the following new subparagraph:
``(B) Special rule for qualifying pollution control equipment.--For purposes of subparagraph (A), any investment property which is qualifying pollution control equipment (as defined in section 48A(b)) shall cease to be investment credit property with respect to a taxpayer if such taxpayer receives a payment in exchange for a credit for emission reductions attributable to such qualifying pollution control equipment for purposes of an offset requirement under part D of title I of the Clean Air Act.''.
(d) Special Rule for Basis Reduction; Recapture of Credit.--Paragraph (3) of section 50(c) (relating to basis adjustment to investment credit property) is amended by inserting ``or qualifying pollution control equipment credit'' after ``reforestation credit''.
(e) Effective Date.--The amendments made by this section shall apply to property placed in service after December 31, 2003, in taxable years ending after such date, under rules similar to the rules of section 48(m) of the Internal Revenue Code of 1986 (as in effect on the day before the date of the enactment of the Revenue Reconciliation Act of 1990).
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