94-8160. Nonconventional Source Fuel Credit; Publication of Inflation Adjustment Factor, Nonconventional Source Fuel Credit, and Reference Price for Calendar Year 1993

[Federal Register Volume 59, Number 66 (Wednesday, April 6, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-8160]


[[Page Unknown]]

[Federal Register: April 6, 1994]


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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 1993

AGENCY: Internal Revenue Service (IRS), Treasury

ACTION: Publication of inflation adjustment factor, nonconventional 
source fuel credit, and reference price for calendar year 1993 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 1993 inflation adjustment factor, nonconventional source 
fuel credit, and reference price apply to qualified fuels sold during 
calendar year 1993.

INFLATION FACTOR: The inflation adjustment factor for calendar year 
1993 is 1.8918.

CREDIT: The nonconventional source fuel credit for calendar year 1993 
is $5.68 per barrel-of-oil equivalent of qualified fuels.

PRICE: The reference price for calendar year 1993 is $14.24.
    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, 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).
Stuart L. Brown,
Associate Chief Counsel (Domestic).
[FR Doc. 94-8160 Filed 3-31-94; 4:23 pm]
BILLING CODE 4830-01-U