S.3323 - Federal Government

A bill to provide weatherization and home heating assistance to low income households, and to provide a heating oil tax credit for middle income households.  

  • A bill to provide weatherization and home heating assistance to low income households, and to provide a heating oil tax credit for middle income households.

    7/24/2008--Introduced.

    Weatherization, Assistance, and Relief for Middle-Income Households Act of 2008 or the WARM Act of 2008 - Makes additional appropriations in FY2008 for the Low-Income Home Energy Assistance Program (LIHEAP) and the Weatherization Assistance Program for Low-Income Persons.

    Amends the Internal Revenue Code to: (1) allow a income-based tax credit for 50% of home heating oil expenditures made on or after June 1, 2008, and before January 1, 2009, up to $1,000 ($2,000 for joint returns); (2) deny major integrated oil companies a tax deduction for income attributable to domestic production, refining, processing, transportation, or distribution of oil, gas, or primary products thereof; and (3) establish a fair market value standard for determining foreign oil and gas extraction income.

Federal Government
Last Update
10/11/2009
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