,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #ddff  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,july #af1 #bjbe,mr4  
,suozzi 7= himself & ,mr4 ,fitzpatrick7 
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to e/abli% a recycl+      
prop]ty inve/m5t cr$it1 & = o!r         
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,cultivat+ ,inve/m5t 9     
,recycl+ & ,circul> ,local ,economies   
,act ( #bjbe or ! ,,circle ,act4  #b4   
,f9d+s ,congress f9ds ! foll[+3 7#a7 ,! 
national recycl+ goal set by !          
,environm5tal ,protection ,ag5cy is #ej 
p]c5t by #bjcj4  7#b7 ,am]ica's recycl+ 
rate hov]s ar\nd #cj p]c5t4  7#c7 ,!    
e/abli%m5t ( a tax cr$it = inve/m5t 9   
exi/+ & new recycl+ infra/ructure w\ld  
promote recycl+ by facilitat+ mod]niz$ &
 upgrad$ recycl+ op]ations & increas+   
supply ( dome/ically recycl$ mat]ials4  
7#d7 ,new recycl+ infra/ructure w\ld    
support responsible end m>kets by help+ 

to meet significant dem& = dome/ically  
s\rc$ recycl$ mat]ial4  7#e7 ,dome/ic   
m>kets face increas$ competition f      
int]national actors :o may dump virg9   
mat]ials or n-v]ifiably-recycl$ cont5t 9
 ,unit$ ,/ates m>kets1 und]cutt+ !      
dome/ic recycl+ economy4  7#f7 ,x is 9 !
 be/ int]e/s ( ! ,unit$ ,/ates to fully 
develop our recycl+ capacities4  #c4    
,recycl+ prop]ty inve/m5t cr$it  7a7 ,9 
g5]al ,subp>t ,e ( "p ,,iv ( sub*apt] ,a
 ( *apt] #a ( ! ,int]nal ,rev5ue ,code (
 #aihf is am5d$ by ins]t+ aft] section  
#dh;,e ! foll[+ new section3  #dh;,f4   
,recycl+ prop]ty inve/m5t cr$it  7a7 ,9 
g5]al ,= purposes ( section #df1 !      
recycl+ prop]ty inve/m5t cr$it = any    
taxable ye> is an am\nt equal to #cj    
p]c5t ( ! qualifi$ inve/m5t = su*       
taxable ye>4  7b7 ,qualifi$ inve/m5t    
7#a7 ,9 g5]al ,= purposes ( subsection  
7a71 ! qualifi$ inve/m5t = any taxable  
ye> is ! basis ( any eligible prop]ty   
plac$ 9 s]vice by ! taxpay] dur+ su*    
taxable ye>4  7#b7 ,eligible prop]ty ,= 

purposes ( ?is section1 ! t]m eligible  
prop]ty means prop]ty-- 7,a7 :i* is     
qualifi$ recycl+ prop]ty1  7,b7 )       
respect to :i* depreciation 7or         
amortization 9 lieu ( depreciation7 is  
all[able1 &  7,c7 7i7 ! con/ruction1    
recon/ruction1 addition1 or erection (  
:i* is complet$ by ! taxpay]1 or  7ii7  
:i* is acquir$ by ! taxpay] if ! orig9al
 use ( su* prop]ty comm5ces ) ! taxpay]4
  7c7 ,special rules ,= purposes ( ?is  
section-- 7#a7 ,c]ta9 progress          
exp5diture rules made applicable ,rules 
simil> to ! rules ( subsections 7c77#d7 
& 7d7 ( section #df 7z 9 effect on ! day
 be=e ! date ( ! enactm5t ( ! ,rev5ue   
,reconciliation ,act ( #aiij7 %all      
apply4  7#b7 ,special rule = c]ta9      
subsidiz$ prop]ty ,rules simil> to      
section #de7;b77#c7 %all apply4  7#c7   
,dome/ic cont5t bonus cr$it am\nt  7,a7 
,9 g5]al ,9 ! case ( any qualifi$       
inve/m5t :i* satisfies ! requirem5t "u  
subp>agraph 7,b71 ! am\nt ( ! cr$it     
det]m9$ "u subsection 7a7 7det]m9$ )\t  

reg>d to ?is p>agraph be=e ! application
 ( subsection 7d7 & aft] ! application (
 any o!r provision ( ?is section7 %all  
be increas$ by an am\nt equal to #aj    
p]c5tage po9ts ( ! am\nt s det]m9$4     
7,b7 ,requirem5t ,rules simil> to !     
rules ( section #de7;b77#i77;,b7 %all   
apply4  7#d7 ,phase\t = elective paym5t 
,9 ! case ( a taxpay] mak+ an election  
"u section #fdag ) respect to a cr$it "u
 ?is section1 rules simil> to ! rules ( 
section #de7;b77#aj7 %all apply4  7d7   
,cr$it phase-,out  7#a7 ,9 g5]al ,!     
am\nt ( ! cr$it det]m9$ "u subsection   
7a7 ) respect to any qualifi$ inve/m5t  
%all be equal to ! product (-- 7,a7 !   
am\nt ( ! cr$it det]m9$ "u subsection   
7a7 )\t reg>d to ?is subsection1        
multipli$ by  7,b7 ! phase-out p]c5tage 
"u p>agraph 7#b74  7#b7 ,phase-out      
p]c5tage ,! phase-out p]c5tage "u ?is   
p>agraph is equal to-- 7,a7 9 ! case (  
any eligible prop]ty ) a det]m9ation    
date beg9n+ on or aft] ,janu>y #a1      
#bjbf1 & be=e ,decemb] #ca1 #bjcb1 #ajj 

p]c5t1  7,b7 9 ! case ( any eligible    
prop]ty ) a det]m9ation date beg9n+ on  
or aft] ,janu>y #a1 #bjcc1 & be=e       
,decemb] #ca1 #bjcc1 #hj p]c5t1  7,c7 9 
! case ( any eligible prop]ty ) a       
det]m9ation date beg9n+ on or aft]      
,janu>y #a1 #bjcd1 & be=e ,decemb] #ca1 
#bjcd1 #fj p]c5t1  7,d7 9 ! case ( any  
eligible prop]ty ) a det]m9ation date   
beg9n+ on or aft] ,janu>y #a1 #bjce1 &  
be=e ,decemb] #ca1 #bjce1 #dj p]c5t1    
7,e7 9 ! case ( any eligible prop]ty ) a
 det]m9ation date beg9n+ on or aft]     
,janu>y #a1 #bjcf1 & be=e ,decemb] #ca1 
#bjcf1 #bj p]c5t1 &  7,f7 9 ! case ( any
 eligible prop]ty ) a det]m9ation date  
beg9n+ on or aft] ,janu>y #a1 #bjcg1 #j 
p]c5t4  7#c7 ,det]m9ation date ,=       
purposes ( p>agraph 7#b71 ! det]m9ation 
date ( an eligible prop]ty is-- 7,a7 9 !
 case su* prop]ty is describ$ 9         
subsection 7b77#b77;,c77i71 ! date on   
:i* ! con/ruction1 recon/ruction1       
addition1 or erection ( su* prop]ty     
beg9s1 &  7,b7 9 any o!r case1 ! date on

 :i* su* prop]ty is plac$ 9 s]vice4  7e7
 ,d5ial ( d\ble b5efit ,9 ! case ( any  
eligible prop]ty ) respect to :i* cr$it 
is all[$ "u subsection 7a7-- 7#a7 no o!r
 cr$it or d$uction %all be all[$ =1 or  
by reason (1 su* prop]ty to ! ext5t ( ! 
am\nt ( su* cr$it1 &  7#b7 ! basis ( su*
 prop]ty %all be r$uc$ by ! am\nt ( su* 
cr$it4  7f7 ,regulations & guidance ,!  
,secret>y %all issue su* regulations or 
o!r guidance z ! ,secret>y det]m9es     
necess>y to c>ry out ! purposes ( ?is   
section1 includ+ regulations or o!r     
guidance :i* provides = requirem5ts =   
recordkeep+ or in=mation report+ =      
purposes ( adm9i/]+ ! requirem5ts ( ?is 
section4  7g7 ,def9itions ,= purposes ( 
?is section-- 7#a7 ,qualifi$ recycl+    
prop]ty ,! t]m qualifi$ recycl+ prop]ty 
has ! mean+ giv5 ! t]m reuse & recycl+  
prop]ty 9 section #afh7m77#c77;,a74     
7#b7 ,qualifi$ reuse & recyclable       
mat]ials ,! t]m qualifi$ reuse &        
recyclable mat]ials has ! mean+ giv5 su*
 t]m 9 section #afh7m77#c77;,b71 except 

t = purposes ( ?is section su* t]m      
includes any video display device & any 
comput] device 7includ+ comput]         
p]iph]als1 su* z keybo>ds1 mice1        
speak]s1 cables1 pr9t]s1 & scann]s74    
7#c7 ,recycle ,! t]m recycle has ! mean+
 giv5 su* t]m 9 section                 
#afh7m77#c77;,c71 except t = purposes ( 
?is section su* t]m does n include--    
7,a7 any me?od ( sort+1 process+1 &     
aggregat+ mat]ials f solid wa/e t-- 7i7 
does n pres]ve ! orig9al quality ( su*  
mat]ials1 &  7ii7 results 9 ! aggregat$ 
mat]ial n be+ usable-- 7,i7 = ! initial 
purpose 7or a sub/antially simil>       
purpose7 ( su* mat]ials1 or  7,,ii7 z   
fe$/ock 9 lieu ( virg9 fe$/ock 9 !      
production ( specification grade        
commodities1 or  7,b7 ! prim>y use (    
wa/e or qualifi$ reuse & recyclable     
mat]ials-- 7i7 z a fuel or fuel         
sub/itute2  7ii7 = ! production or      
g5]ation ( en]gy 7includ+ heat &        
electricity72  7iii7 = inc9]ation2  7iv7
 = alt]nate op]at+ cov]2 or  7v7 )9 !   

footpr9t ( a l&fill4  4  7b7 ,cr$it made
 "p ( inve/m5t cr$it ,section #df ( su* 
,code is am5d$ by /rik+ & at ! end (    
p>agraph 7#f71 by /rik+ ! p]iod at ! end
 ( p>agraph 7#g7 & ins]t+ 1 &1 & by add+
 at ! end ! foll[+ new p>agraph3  7#h7 !
 recycl+ prop]ty inve/m5t cr$it4  4  7c7
 ,cl]ical am5dm5t ,! table ( sections = 
subp>t ,e ( "p ,,iv ( sub*apt] ,a (     
*apt] #a ( su* ,code is am5d$ by ins]t+ 
aft] ! item relat+ to section #dh;,e !  
foll[+ new item3  #dh;,f4 ,recycl+      
prop]ty inve/m5t cr$it4  4  7d7         
,effective date ,! am5dm5ts made by ?is 
section %all apply to-- 7#a7 9 ! case ( 
prop]ty describ$ 9 section              
#dh;,f7b77#b77;,c77i7 ( ! ,int]nal      
,rev5ue ,code ( #aihf 7z add$ by        
subsection 7a771 prop]ty :i* is         
con/ruct$1 recon/ruct$1 add$1 or erect$ 
aft] ,decemb] #ca1 #bjbe1 &  7#b7 9 any 
o!r case1 prop]ty :i* is plac$ 9 s]vice 
aft] ,decemb] #ca1 #bjbe4