To amend the Internal Revenue Code of 1986 to extend the credit period for the production of refined coal, and for other purposes.
To amend the Internal Revenue Code of 1986 to extend the credit period for the production of refined coal, and for other purposes.
Plain Language Summary
# HR 7070 Summary **What the Bill Would Do** HR 7070 would extend the tax credit period for refined coal production. The refined coal credit is a federal tax incentive that allows coal producers to receive a per-ton credit when they process raw coal into a cleaner-burning refined coal product. By extending this credit period, the bill would keep this financial incentive available for a longer time. **Who It Affects** This bill primarily affects coal producers and refineries that process coal, as well as companies in energy-related industries that use refined coal.
It could also indirectly impact workers in coal-producing regions and communities dependent on the coal industry economically. **Current Status** The bill was introduced by Representative Carol D. Miller (R-WV) and is currently in committee, meaning it has not yet been debated or voted on by the full House of Representatives. The bill's summary notes it contains additional provisions beyond the refined coal credit extension, though specific details about those provisions are not listed in the available information.
Latest Action
Referred to the House Committee on Ways and Means.