95-8373. Nonconventional Source Fuel Credit; Publication of Inflation Adjustment Factor, Nonconventional Source Fuel Credit, and Reference Price for Calendar Year 1994

[Federal Register Volume 60, Number 65 (Wednesday, April 5, 1995)]
[Notices]
[Page 17381]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-8373]



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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 1994

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Publication of inflation adjustment factor, nonconventional 
source fuel credit, and reference price for calendar year 1994 as 
required by section 29 of the Internal Revenue Code (26 U.S.C. 29).

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

DATES: The 1994 inflation adjustment factor, nonconventional source 
fuel credit, and reference price apply to qualified fuels sold during 
calendar year 1994.

INFLATION FACTOR: The inflation adjustment factor for calendar year 
1994 is 1.9207.

CREDIT: The nonconventional source fuel credit for calendar year 1994 
is $5.76 per barrel-of-oil equivalent of qualified fuels.

PRICE: The reference price for calendar year 1994 is $13.19. Because 
the above reference price does not exceed $23.50 multiplied by the 
inflation adjustment factor, the phaseout of credit provided for in 
section 29(b)(1) of the Internal Revenue Code does not occur for any 
qualified fuel based on the above reference price.

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).
Judith C. Dunn,
Associate Chief Counsel (Domestic).
[FR Doc. 95-8373 Filed 4-4-95; 8:45 am]
BILLING CODE 4830-01-U