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Corrosion Prevention Act of 2009. HR 3462. Energy Industry Tax Credit for Corrosion Control 50% tax credit for energy industry that employ corrosion control technologies Activities must exceed federal, state, or local requirements. Tax Credit Applies to All Major Energy Sources .

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slide2

Energy Industry Tax Credit for Corrosion Control

  • 50% tax credit for energy industry that employ corrosion control technologies
  • Activities must exceed federal, state, or local requirements.
tax credit applies to all major energy sources
Tax Credit Applies to All Major Energy Sources

50% tax credit applies to:

  • Biofuels Nuclear
  • Coal Solar
  • Oil Wind
  • Natural Gas Alternative Sources
slide4

Tax Credit Applies to All Major Phases of Energy Production

50% tax credit applies to all energy industry:

Exploration

Production

Refining

Transportation

tax credit applies to all major corrosion control expenditures
Tax Credit Applies to All Major Corrosion Control Expenditures

50% tax credit applies to corrosion control expenditures for:

Engineering design

Materials

Application

Installation

promotes leading corrosion control technologies
Promotes Leading Corrosion Control Technologies

50% tax credit applies to leading corrosion control technologies:

Protective coatings

Chemical treatment

Corrosion resistant metals

Cathodic protection

two year availability
Two Year Availability

Tax credit shall apply for 2 years beginning on the date of its enactment.

corrosion prevention act of 2009 hr 3462
Corrosion Prevention Act of 2009 (HR 3462)

Rep. Kevin Brady (R-TX08) - sponsor

Rep. Mike Conaway (R-TX11) – original cosponsor

Rep. Betty Sutton (D-OH13) – original cosponsor

John Culberson (R-TX07) – original cosponsor