Top Legislation - View All

Latest Action: 01/04/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to expand and extend the incentives for alternative fuel vehicles and refueling property and to repeal the oil and gas production incentives added by the Energy Policy Act of 2005. 1/4/2007--Introduced. Oil and Gas-to-Alternatives Swap (OGAS) Act of 2007 - Amends the Internal Revenue Code to repeal: (1) the tax credit for facilities producing coke or coke gas-related fuel; (2) the classification of the tax credit for producing fuel from a nonconventional source as a business-related credit; (3) accelerated amortization of geological and geophysical expenditures; and (4) the limitation on the number of new qualified hybrid and advanced lean-burn technology vehicles eligible for the tax credit for alternative motor vehicles. Extends through 2012 the alternative motor vehicles tax credit for: (1) advanced lean burn technology motor vehicles; (2) qualified hybrid motor vehicles; and (3) qualified alternative fuel vehicles. Increases [...]

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Latest Action: 01/04/2007 - Read twice and referred to the Committee on Finance.

Bill Text
A bill to suspend royalty relief, to repeal certain provisions of the Energy Policy Act of 2005, and to amend the Internal Revenue Code of 1986 to repeal certain tax incentives for the oil and gas industry. 1/4/2007--Introduced. Oil Subsidy Elimination for New Strategies on Energy Act or the Oil SENSE Act - Repeals provisions of the Energy Policy Act of 2005 relating to: (1) incentives for production from marginal oil wells; (2) incentives for natural gas production in the Gulf of Mexico; (3) royalty relief for deep water production; (4) Alaska offshore royalty suspension; (5) the inventory of Outer Continental Shelf oil and natural gas resources; (6) management of federal oil and gas leasing programs; and (7) ultra-deepwater and unconventional natural gas and other petroleum resources. Requires the Secretary of the Interior to: (1) suspend royalty relief for producers of oil or natural gas on federal lands during periods in which oil and natural gas production is [...]

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Latest Action: 01/04/2007 - Read twice and referred to the Committee on Finance.

Bill Text
A bill to amend the Internal Revenue Code of 1986 to modify the alcohol credit and the alternative fuel credit, to amend the Clean Air Act to promote the installation of fuel pumps for E-85 fuel, to amend title 49 of the United States Code to require the manufacture of dual fueled automobiles, and for other purposes. 1/4/2007--Introduced. National Fuels Initiative - Amends the Internal Revenue Code to modify the alcohol fuels tax credit and the alternative fuel tax credit by calculating such rates based on a formula related to the average price of a barrel of oil. Sets tax credit rates for alcohol fuels, qualified alcohol fuel mixtures, and alternative fuels sold or used before January 1, 2011. Extends such credits. Sets forth sunset provisions terminating the small ethanol producer tax credit. Amends the Clean Air Act to require the Secretary of Energy to promulgate regulations to ensure that each major oil company that sells gasoline in the United States through [...]

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Latest Action: 01/04/2007 - Read twice and referred to the Committee on Finance.

Bill Text
A bill to amend the Internal Revenue Code of 1986 to permanently extend the Indian employment credit and the depreciation rules for property used predominantly within an Indian reservation.

1/4/2007--Introduced.

Amends the Internal Revenue Code to permanently extend the Indian employment tax credit and the depreciation rules for property used predominantly within an Indian reservation.

Latest Action: 12/19/2007 - Became Public Law No: 110-140.

Bill Text
An Act to move the United States toward greater energy independence and security, to increase the production of clean renewable fuels, to protect consumers, to increase the efficiency of products, buildings, and vehicles, to promote research on and deploy greenhouse gas capture and storage options, and to improve the energy performance of the Federal Government, and for other purposes. 12/19/2007--Public Law.    (There are 3 other summaries) Energy Independence and Security Act of 2007 – Title I: Energy Security Through Improved Vehicle Fuel Economy - Subtitle A: Increased Corporate Average Fuel Economy Standards - Ten-in-Ten Fuel Economy Act - (Sec. 102) Amends federal transportation law to instruct the Secretary of Transportation (Secretary in this title) to prescribe separate average fuel economy standards for passenger and for non-passenger automobiles for model years 2011-2030. Repeals the current requirement that the average fuel economy [...]

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Latest Action: 01/04/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to provide tax incentives for small businesses, and for other purposes.

1/4/2007--Introduced.

Small Business Tax Fairness and Simplification Act of 2007 - Amends the Internal Revenue Code to: (1) allow self-employed individuals to participate in cafeteria pension plans; (2) allow long-term care insurance under cafeteria plans and flexible spending arrangements; (3) allow accelerated amortization of certain intangible assets (e.g., good will) acquired from a small business; (4) increase the tax exclusion of gain from the sale of certain small business stock; (5) provide a $2,500 standard tax deduction for home business expenses; (6) permit certain small businesses to elect a taxable year ending in a month from April to November; (7) increase the allowable number of S corporation shareholders; and (8) exempt certain small businesses from withholding of tax requirements for payments made by government entities.

Latest Action: 04/17/2007 - Sponsor introductory remarks on measure. (CR S4602-4604)

Bill Text
A bill to repeal the sunset on certain tax rates and other incentives and to repeal the individual alternative minimum tax, and for other purposes. 4/17/2007--Introduced. Invest in America Act - Repeals the general termination date (i.e., December 31, 2010) of the Economic Growth and Tax Relief Reconciliation Act of 2001 (thus making provisions of that Act that reduce income tax rates and repeal the estate and gift tax permanent).Repeals the termination date in the Jobs Growth Tax Relief Reconciliation Act of 2003 applicable to the reduction in taxes on dividends and capital gains. Amends the Internal Revenue Code to make permanent: (1) the tax credit for increasing research activities; (2) the increased expensing allowance for small business assets; and (3) the tax deduction for certain expenses of elementary and secondary school teachers. Repeals the alternative minimum tax on individuals after 2006.Expresses the sense of the Senate that the Committee [...]

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Latest Action: 03/29/2007 - Considered as unfinished business. (consideration: CR H3283-3338; text of measure as reported in House: CR H3283-3289)

Bill Text
Revising the congressional budget for the United States Government for fiscal year 2007, establishing the congressional budget for the United States Government for fiscal year 2008, and setting forth appropriate budgetary levels for fiscal years 2009 through 2012. 3/29/2007--Passed House without amendment.    (There are 2 other summaries) (This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.) Revises and replaces the congressional budget for the federal government for FY2007. Sets forth the congressional budget for the federal government for FY2008, including the appropriate budgetary levels for FY2009-FY2012. Title I: Recommended Levels and Amounts - (Sec. 101) Recommends budgetary levels and amounts for FY2007-FY2012 for: (1) federal revenues; (2) new budget authority; (3) budget outlays; (4) deficits (on-budget); (5) debt subject to limit; [...]

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Latest Action: 01/04/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to reduce the depreciation recovery period for roof systems.

1/4/2007--Introduced.

Realistic Roofing Tax Treatment Act of 2007 - Amends the Internal Revenue Code to classify any roof system as 20-year property for depreciation purposes.

Latest Action: 01/04/2007 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S144-148)

Bill Text
A bill to promote coal-to-liquid fuel activities. 1/4/2007--Introduced. Coal-to-Liquid Fuel Promotion Act of 2007 - Amends the Energy Policy Act of 2005 to instruct the Secretary of Energy to: (1) make loan guarantees to certain large-scale coal-to-liquid facilities to produce liquid transportation fuel; (2) establish a loan program to pay the federal share of the cost of obtaining services necessary for the planning, permitting, and construction of a coal-to-liquid facility; and (3) promulgate regulations for development of coal-to-liquid manufacturing facilities on federal land. Amends the Energy Policy and Conservation Act to instruct the Secretaries of Energy and of Defense to study and report to Congress on the feasibility and suitability of maintaining coal-to-liquid products in the Strategic Petroleum Reserve (Reserve). Authorizes the Secretary to: (1) construct storage facilities in the vicinity of pipeline infrastructure and at least one military base;[...]

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Latest Legislation - View All

Latest Action: 09/25/2008 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to simplify the deduction for use of a portion of a residence as a home office by providing an optional standard home office deduction. 9/25/2008--Introduced. Home Office Tax Deduction Simplification and Improvement Act of 2008 - Amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business to elect a standard tax deduction equal to the product of a standard rate determined by the Secretary of the Treasury and the square footage of the portion of a residence used to conduct a trade or business (home office tax deduction). Modifies the rules for the home office tax deduction to: (1) allow a deduction for the cost of dealing with patients, clients, or customers even if they are not physically present in the home office; and (2) establish a de minimis exemption for personal use of a home office.Requires the Secretary to ensure that all self-employment tax forms and schedules separately [...]

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Latest Action: 09/11/2008 - Sponsor introductory remarks on measure. (CR S8392)

Bill Text
A bill to amend the Internal Revenue Code of 1986 to provide incentives for the production of energy, to provide transportation and domestic fuel security, and to provide incentives for energy conservation and energy efficiency, and for other purposes. 9/11/2008--Introduced. Energy Independence and Investment Act of 2008 - Amends and extends Internal Revenue Code provisions relating to energy production, transportation and domestic fuel security, energy conservation and efficiency, and nuclear power.Extends through 2011 the tax credit for production of electricity from specified renewable resources, including wind energy, biomass, geothermal energy, refined coal, and hydropower. Includes marine and hydrokinetic renewable energy as a renewable resource for purposes of such tax credit. Extends through 2016 the energy tax credit for solar, fuel cell, and microturbine property and the tax credit for residential energy efficient property. Allows a new investment tax [...]

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Latest Action: 11/18/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 1118 under authority of the order of the Senate of 11/17/2008.

Bill Text
To advance the national security interests of the United States by reducing its dependency on oil through renewable and clean, alternative fuel technologies while building a bridge to the future through expanded access to Federal oil and natural gas resources, revising the relationship between the oil and gas industry and the consumers who own those resources and deserve a fair return from the development of publicly owned oil and gas, ending tax subsidies for large oil and gas companies, and facilitating energy efficiencies in the building, housing, and transportation sectors, and for other purposes. 9/15/2008--Introduced. Comprehensive American Energy Security and Consumer Protection Act - Prohibits oil and gas preleasing or leasing of any area of the Outer Continental Shelf that was not available for oil and gas leasing as of July 1, 2008, unless that action is expressly authorized by this Act or a statute enacted by Congress after the date of enactment of this Act. [...]

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Latest Action: 07/28/2008 - Sponsor introductory remarks on measure. (CR S7575-7576)

Bill Text
A bill to increase energy assistance for low-income persons, to extend energy tax incentives, and for other purpose. 7/28/2008--Introduced. Energy Assistance Act of 2008 - Amends the Energy Conservation and Production Act to authorize appropriations for FY2009-FY2011 for the home weatherization program. Establishes in the Treasury the Energy Assistance Fund to finance low interest loans for the purchase and installation of energy efficient property, idling reduction devices and advanced insulation for heavy trucks, and alternative refueling stations.Amends the Internal Revenue Code to allow individual taxpayers a tax credit, up to $500, for the cost of replacing a residential wood stove with: (1) a wood-burning stove that complies with current Environmental Protection Agency (EPA) standards; and (2) a pellet or corn-burning stove. Extends the tax credit for producing electricity from wind facilities through 2009 and the credit for closed and open-loop [...]

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Latest Action: 07/31/2008 - Sponsor introductory remarks on measure. (CR S7952)

Bill Text
A bill to provide for marginal well production preservation an enhancement. 7/31/2008--Introduced. Marginal Well Production Preservation and Enhancement Act - Amends the Internal Revenue Code to: (1) increase to 27.5% the percentage depletion allowance for domestic crude oil and natural gas production from marginal properties; (2) extend through 2008 the temporary suspension of the taxable income limit with respect to marginal production of crude oil and natural gas; and (3) accelerate to three years the recovery period of qualified tertiary injectant property for depreciation purposes.Amends the Clean Air Act with respect to emissions from small oil and gas exploration and production-related equipment. Amends the Federal Water Pollution Control Act to: (1) amend the definition of "wastewater treatment facility" to include produced water from an oil production facility; and (2) require the Administrator of the Environmental Protection Agency (EPA) to [...]

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Latest Action: 07/31/2008 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to provide tax incentives for clean coal technology, and for other purposes.

7/31/2008--Introduced.

Carbon Reduction Technology Bridge Act of 2008 - Amends the Internal Revenue Code to allow: (1) seven-year amortization of mechanical or electronic systems that are installed on a coal-fired electric generation unit after 2007 and that reduce carbon dioxide emissions; (2) a tax credit for the production of electricity using cl