Corrosion Prevention Act of 2009 HR 3462. Energy Industry Tax Credit for Corrosion Control 50% tax credit for energy industry that employ corrosion control.

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Presentation transcript:

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 50% tax credit applies to: Biofuels Nuclear Coal Solar Oil Wind Natural Gas Alternative Sources

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 50% tax credit applies to corrosion control expenditures for: Engineering design Materials Application Installation

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

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

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