BRIEFLY NOTED - September 1999

BRIEFLY NOTED - September 1999

September 01, 1999

BRIEFLY NOTED: President Clinton created an interagency panel in August to report back in eight months on how to increase use of biomass, including for generating electricity. The goal is to triple US use of bioenergy by 2010 . . . . The Senate Finance Committee voted in June to bar companies that use accrual accounting from reporting gain from installment sales of property ratably over the same period the installments are received. Rather, the entire gain would have to be reported immediately upon the sale. Installment reporting would only be allowed in future for companies that use cash accounting. The measure is part of a “Generalized System of Preferences Act” that may be taken up by the Senate this fall and then folded into an African trade bill that already passed the House.

 

Keith Martin