H.R.3592 - Plastics Recycling Act of 2009111th Congress (2009-2010)
Summary: H.R.3592 — 111th Congress (2009-2010)
Introduced in House (09/17/2009)
Plastics Recycling Act of 2009 - Amends the Internal Revenue Code to allow a business-related tax credit equal to 60 cents per gallon of qualified synthetic oil produced from recycled waste plastics. Defines "qualified synthetic oil" as oil derived from post-consumer and post-industrial waste plastics and which has a minimum market value of 90% of crude oil.
Directs the Secretary of the Treasury to make grants to persons eligible for the waste plastic recycling tax credit provided by this Act in lieu of such credit.