TIER Act of 2004

Tax Incentives to Encourage Recycling Act of 2004 (TIER Act of 2004) - Amends the Internal Revenue Code to allow manufacturers of computer and television equipment a business tax credit for the disposal and recyling of such equipment.

[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4553 Introduced in House (IH)]







108th CONGRESS
  2d Session
                                H. R. 4553

To amend the Internal Revenue Code of 1986 to provide tax incentives to 
encourage manufacturers of computer and television equipment to operate 
  an environmentally sound recycling program for use by consumers who 
                     want to discard the equipment.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 14, 2004

 Mr. Cunningham (for himself and Mr. Cantor) introduced the following 
      bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to provide tax incentives to 
encourage manufacturers of computer and television equipment to operate 
  an environmentally sound recycling program for use by consumers who 
                     want to discard the equipment.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Tax Incentives to Encourage 
Recycling Act of 2004'' or the ``TIER Act of 2004''.

SEC. 2. CREDIT FOR POST-CONSUMER RECYCLING OF COMPUTER AND TELEVISION 
              EQUIPMENT BY MANUFACTURERS OF THE EQUIPMENT.

    (a) In General.--Subpart D of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 (relating to business-related 
credits) is amended by adding at the end the following new section:

``SEC. 45G. POST-CONSUMER RECYCLING OF COMPUTER AND TELEVISION 
              EQUIPMENT BY MANUFACTURERS OF THE EQUIPMENT.

    ``(a) General Rule.--For purposes of section 38, in the case of a 
manufacturer of computer equipment or televisions, the recycling 
equipment credit determined under this section for the taxable year is 
the amount determined under subsection (b) for each item of such 
equipment--
            ``(1) which was manufactured by such manufacturer, and
            ``(2) which is disposed of by such manufacturer pursuant to 
        a qualified recycling program.
    ``(b) Amount of Credit.--The amount of credit shall be determined 
as follows:

``Type of item:                                       Amount of credit:
    Central processing unit.......................                  $4 
    Monitor.......................................                  $4 
    Printer.......................................                  $4 
    Mouse and Keyboard (both).....................                  $1 
    Television....................................                  $4.
    ``(c) Definitions.--For purposes of this section--
            ``(1) Computer.--The term `computer' means an electronic, 
        magnetic, optical, electrochemical, or other high speed data 
        processing device performing logical, arithmetic, or storage 
        functions, and may include both a central processing unit and a 
        monitor, but such term does not include an automated typewriter 
        or typesetter, a portable hand held calculator, or other 
        similar device.
            ``(2) Central processing unit.--The term `central 
        processing unit' includes a case and all of its contents, such 
        as the primary printed circuit board and its components, 
        additional printed circuit boards, one or more disc drives, a 
        transformer, interior wire, and a power cord.
            ``(3) Monitor.--The term `monitor' means a separate visual 
        display component of a computer, whether sold separately or 
        together with a central processing unit, and includes a cathode 
        ray tube or liquid crystal display, its case, interior wires 
        and circuitry, cable to the central processing unit, and power 
        cord.
            ``(4) Qualified recycling program.--The term `qualified 
        recycling program' means any program under which all parts of 
        the computer or television (including any hazardous waste, as 
        defined in section 1004(5) of the Solid Waste Disposal Act (42 
        U.S.C. 6903)) are disposed of in an environmentally sound and 
        responsible manner.''
    (b) Conforming Amendment.--Section 38(b) of such Code (relating to 
general business credit) is amended by striking ``plus'' at the end of 
paragraph (14), by striking the period at the end of paragraph (15) and 
inserting ``, plus'', and by adding at the end the following new 
paragraph:
            ``(16) in the case of a manufacturer of computer equipment 
        or televisions, the recycling equipment credit determined under 
        section 45G(a).''.
    (c) Clerical Amendment.--The table of sections for subpart D of 
part IV of subchapter A of chapter 1 of such Code is amended by 
inserting after the item relating to section 45F the following new 
item:

                              ``Sec. 45G. Post-consumer recycling of 
                                        computer and television 
                                        equipment by manufacturers of 
                                        the equipment.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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