S.1587 - Recycling Investment Saves Energy110th Congress (2007-2008)
Summary: S.1587 — 110th Congress (2007-2008)
Introduced in Senate (06/11/2007)
Recycling Investment Saves Energy or the RISE Act - Amends the Internal Revenue Code to allow: (1) a first-year tax deduction of 50% of the adjusted basis of qualified reuse and recycling property; and (2) tax-exempt bond financing for recycling facilities. Defines "qualified reuse and recycling property" as property placed in service after December 31, 2006, which has a useful life of at least five years and which is used exclusively to collect, distribute, or recycle certain scrap materials.