Alcohol Production Tax Incentive Act of 1979 - Amends the Internal Revenue Code to allow a taxpayer to elect an income tax deduction with respect to the amortization, based on a 60 month period, of any qualified alcohol producing facility which is: (1) property of a character subject to the allowance for depreciation; (2) used as an integral part in the production of alcohol from coal, biomass, or agricultural products; (3) a research facility used in connection with such production; or (4) a facility used in connection with such production for the bulk storage of fungible commodities.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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