96-8935. Nonconventional Source Fuel Credit; Publication of Inflation Adjustment Factor, Nonconventional Source Fuel Credit, and Reference Price for Calendar Year 1995

[Federal Register Volume 61, Number 70 (Wednesday, April 10, 1996)]
[Notices]
[Page 16031]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-8935]



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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Nonconventional Source Fuel Credit; Publication of Inflation 
Adjustment Factor, Nonconventional Source Fuel Credit, and Reference 
Price for Calendar Year 1995

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Publication of inflation adjustment factor, nonconventional 
source fuel credit, and reference price for calendar year 1995 as 
required by section 29 of the Internal Revenue Code (26 U.S.C. section 
29).

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SUMMARY: The inflation adjustment factor, nonconventional source fuel 
credit, and reference price are used in determining the tax credit 
allowable on the production of fuel from nonconventional sources under 
section 29.

DATES: The 1995 inflation adjustment factor, nonconventional source 
fuel credit, and reference price apply to qualified fuels sold during 
calendar year 1995.

INFLATION FACTOR: The inflation adjustment factor for calendar year 
1995 is 1.9439.

CREDIT: The nonconventional source fuel credit for calendar year 1995 
is $5.83 per barrel-of-oil equivalent of qualified fuels.

PRICE: The reference price for calendar year 1995 is $14.62. (This is a 
republication of the reference price previously reported in 61 FR 13919 
on March 28, 1996.) Because this reference price does not exceed $23.50 
multiplied by the inflation adjustment factor, the phaseout of credit 
provided for in section 29(b)(1) does not occur for any qualified fuel 
sold in calendar year 1995.

FOR FURTHER INFORMATION CONTACT:
For the inflation factor and credit--Thomas Thompson, CP:R:R:AR:E, 
Internal Revenue Service, 1111 Constitution Ave., NW., Washington, DC 
20224, Telephone Number [phone] (not a toll-free number).
For the reference price--David McMunn, CC:DOM:P&SI:6, Internal Revenue 
Service, 1111 Constitution Ave., NW., Washington, DC 20224, Telephone 
Number [phone] (not a toll-free number).
Daniel J. Wiles,
Acting Associate Chief Counsel (Domestic).
[FR Doc. 96-8935 Filed 4-9-96; 8:45 am]
BILLING CODE 4830-01-P