Top Legislation - View All
Also tagged in: Alternative energy sources, Business, Coke industry, Depreciation and amortization, Electric vehicles, Energy, Energy conservation, Energy efficiency, Fuel cells, Fuel consumption, Geology, Geophysical prediction, Income tax, Natural gas vehicles, Petroleum industry, Prospecting, Service stations, Tax credits, Tax deductions, Taxation, Transportation
Latest Action: 01/04/2007 - Referred to the House Committee on Ways and Means. Bill TextTo 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 [...] show full description
Also tagged in: Alaska, Business, Continental shelf, Depletion allowances, Depreciation and amortization, Economic policy, Energy, Energy prices, Energy transportation, Gas in submerged lands, Geology, Geophysical prediction, Gulf of Mexico, Income tax, Indexing (Economic policy), Marine resources, Natural gas, Natural gas prices, Natural resources, Oil and gas leases, Oil and gas royalties, Oil well drilling, Petroleum in submerged lands, Petroleum industry, Petroleum refineries, Pipelines, Prospecting, Public lands, Tax deductions, Taxation, Transportation
Latest Action: 01/04/2007 - Read twice and referred to the Committee on Finance. Bill TextA 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 [...] show full description
Also tagged in: Accident prevention, Actions and defenses, Administrative fees, Administrative procedure, Affordable housing, Africa, Agricultural subsidies, Agricultural wastes, Agriculture, Air conditioning, Air pollution, Air pollution control, Alaska, Alcohol as fuel, Alternative energy sources, Animals, Antitrust law, Armed forces, Australia, Automobile engines, Automobile industry, Automobile tires, Automobiles, Awards, medals, prizes, Balanced budgets, Bicycles, Biological research, Biomass energy, Block grants, Budgets, Building construction, Building laws, Business, Capital investments, Capitol (Washington, D.C.), Carbon cycle, Carbon dioxide, Cartels, Cellulose, Child safety, Children, China, Climate change, Coal, Cogeneration of electric power and heat, Commemorations, Commercialization, Compensation (Law), Congress, Congressional investigations, Congressional office buildings, Congressional oversight, Congressional reporting requirements, Construction costs, Consumer education, Consumer goods, Consumer Product Safety Commission, Consumer protection, Consumers, Corn, Cost control, Cost effectiveness, Data banks, Defense policy, Democracy, Department of Commerce, Department of Energy, Department of State, Department of Transportation, Depreciation and amortization, Developing countries, Diesel motor, East Asia, Economic policy, Education, Educational facilities, Electric appliances, Electric batteries, Electric power distribution, Electric power plants, Electric power production, Electric power transmission, Electric utilities, Electric vehicles, Elementary and secondary education, Embassies, Emergency management, Employee training, Employment of the disadvantaged, Energy, Energy conservation, Energy conservation in buildings, Energy consumption, Energy crops, Energy efficiency, Energy facilities, Energy prices, Energy research, Energy security, Energy storage, Energy supplies, Energy transportation, Environmental assessment, Environmental health, 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(U.S.), Western Hemisphere, Wind power
Latest Action: 12/19/2007 - Became Public Law No: 110-140. Bill TextAn 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 [...] show full description
Latest Action: 01/04/2007 - Sponsor introductory remarks on measure. (CR S111) Bill TextA bill to amend the Internal Revenue Code of 1986 to provide that major oil and gas companies will not be eligible for the effective rate reductions enacted in 2004 for domestic manufacturers. 1/4/2007--Introduced. Restore a Rational Tax Rate on Petroleum Production Act of 2007 - Amends the Internal Revenue Code to deny a tax deduction in the case of any major integrated oil company for income attributable to the domestic production, refining, processing, transportation, or distribution of oil, natural gas, or any primary product thereof.
Also tagged in: Administrative procedure, Air pollution, Alternative energy sources, Armed forces, Aviation fuels, Budgets, Building construction, Business, Carbon cycle, Carbon dioxide, Coal, Coal liquefaction, Congress, Congressional reporting requirements, Construction costs, Cooperative societies, Defense contracts, Defense economics, Defense policy, Department of Energy, Depreciation and amortization, Diesel motor, Energy, Energy facilities, Energy research, Energy storage, Environmental health, Environmental protection, Environmental research, Executive departments, Federally-guaranteed loans, Finance, Government lending, Governmental investigations, Health policy, Income tax, Investment tax credit, Laboratories, Law, Licenses, Medical care, Methane, Military bases, Minimum tax, Motor vehicle pollution control, Natural resources, Petroleum, Petroleum industry, Petroleum reserves, Public contracts, Public health, Public lands, Research and development, Research and development facilities, Research centers, Science policy, Secondary recovery of gas, Secondary recovery of oil, Strategic materials, Synthetic fuel, Tax credits, Tax deductions, Tax returns, Taxation, Transportation
Latest Action: 01/04/2007 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S144-148) Bill TextA 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;[...] show full description
Also tagged in: Administrative procedure, Air pollution, Alternative energy sources, Armed forces, Aviation fuels, Budgets, Building construction, Business, Carbon cycle, Carbon dioxide, Coal, Coal liquefaction, Congress, Congressional reporting requirements, Construction costs, Cooperative societies, Defense contracts, Defense economics, Defense policy, Department of Energy, Depreciation and amortization, Diesel motor, Energy, Energy facilities, Energy research, Energy storage, Environmental health, Environmental protection, Environmental research, Executive departments, Federally-guaranteed loans, Finance, Government lending, Governmental investigations, Health policy, Income tax, Investment tax credit, Laboratories, Law, Licenses, Medical care, Methane, Military bases, Minimum tax, Motor vehicle pollution control, Natural resources, Petroleum, Petroleum industry, Petroleum reserves, Public contracts, Public health, Public lands, Research and development, Research and development facilities, Research centers, Science policy, Secondary recovery of gas, Secondary recovery of oil, Strategic materials, Synthetic fuel, Tax credits, Tax deductions, Tax returns, Taxation, Transportation
Latest Action: 02/02/2007 - Referred to the Subcommittee on Energy and Air Quality. Bill TextTo promote coal-to-liquid fuel activities. 1/10/2007--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; and [...] show full description
Also tagged in: Business, Business records, Data banks, Energy, Energy facilities, Government information, Government paperwork, Government publicity, Law, Licenses, Liquefied natural gas, Lobbying, Politics and government, Public relations, Technology
Latest Action: 01/17/2007 - Sponsor introductory remarks on measure. (CR S695) Bill TextA bill to require persons seeking approval for a liquefied natural gas facility to identify employees and agents engaged in activities to persuade communities of the benefits of the approval. 1/17/2007--Introduced. Instructs the Federal Energy Regulatory Commission, the Secretary of Transportation, and the Secretary of the department in which the Coast Guard is operating to: (1) require an applicant for approval under the Natural Gas Act or the Deepwater Port Act of 1974 (DPA) of the siting, construction, expansion, or operation of a liquefied natural gas facility (including an off-shore facility under DPA), to identify each employee or agent engaged in activities to persuade communities of the benefits of such approval; and (2) maintain a publicly available database listing all such employees and agents.
Also tagged in: Air pollution, Air pollution control, Budgets, Business, Carbon dioxide, Carcinogens, Collection of accounts, Criminal justice, Energy, Energy storage, Energy transportation, Environmental protection, Fines (Penalties), Government information, Government paperwork, Governmental investigations, Hazardous substances, Helium, Indian lands, Indians, Law, Marketing, Minorities, Natural resources, Nitrogen, Oil and gas leases, Oil and gas royalties, Petroleum industry, Pipelines, Public contracts, Public lands, Sulphur, Transportation
Latest Action: 02/20/2007 - Referred to the Subcommittee on Energy and Mineral Resources. Bill TextTo provide for a study by the National Academy of Engineering regarding improving the accuracy of collection of royalties on production of oil, condensate, and natural gas under leases of Federal lands and Indian lands, and for other purposes. 1/12/2007--Introduced. Study of Ways to Improve the Accuracy of the Collection of Federal Oil, Condensate, and Natural Gas Royalties Act of 2007 - Directs the Secretary of the Interior to arrange with the National Academy of Engineering to study and report to the Secretary regarding whether the accuracy of collection of royalties on production of oil, condensate, and natural gas under leases of federal lands (including submerged, deep water, and Indian lands) would be improved by implementing certain prescribed measures. Requires the Secretary to award a contract under which the contractor shall: (1) compare royalty payments made under federal oil and gas lease provisions for covered lands against data supplied to the Federal [...] show full description
Latest Action: 01/12/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to provide that oil and gas companies will not be eligible for the effective rate reductions enacted in 2004 for domestic manufacturers. 1/12/2007--Introduced. Ending Subsidies for Big Oil Act of 2007- Amends the Internal Revenue Code to deny a tax deduction for income attributable to the sale, exchange, or other disposition of oil, natural gas, or any primary product thereof.
Also tagged in: Business, Depletion allowances, Depreciation and amortization, Electric vehicles, Energy, Energy research, Energy transportation, Fuel cells, Geology, Geophysical prediction, Government procurement, Government vehicles, Hydrogen, Income tax, Natural gas, Natural gas vehicles, Natural resources, Petroleum, Petroleum industry, Petroleum refineries, Pipelines, Prospecting, Public contracts, Science policy, Small business, Tax deductions, Taxation, Technological innovations, Technology, Transportation
Latest Action: 03/20/2007 - Referred to the Subcommittee on Government Management, Organization, and Procurement. Bill TextTo amend the Internal Revenue Code of 1986 to repeal the oil and gas tax subsidies enacted in the Energy Policy Act of 2005, and for other purposes. 1/16/2007--Introduced. Energy Policy Reinvestment Act of 2007 - Amends the Internal Revenue Code to repeal: (1) the expensing allowance for liquid fuel refineries; (2) accelerated depreciation for natural gas distribution and gathering lines; (3) expanded eligibility of small petroleum refiners for the exception to limitations on the oil and gas depletion allowance; and (4) accelerated amortization of geological and geophysical expenditures. Directs that any revenues resulting from these repeals be made available for certain hydrogen and fuel cell technology programs.
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Latest Legislation - View All
Also tagged in: Agriculture, Alaska, Alcohol as fuel, Alternative energy sources, Automobile engines, Biomass energy, Black lung, Budgets, Building construction, Business, Carbon cycle, Carbon dioxide, Cellulose, Coal, Cogeneration of electric power and heat, Continental shelf, Damages, Depreciation and amortization, Diesel motor, Disability retirement, Disabled, Education, Electric appliances, Electric power distribution, Electric power production, Electric vehicles, Elementary and secondary education, Energy, Energy conservation, Energy efficiency, Energy facilities, Environmental protection, Excise tax, Exports, Fuel cells, Gas in submerged lands, Geothermal resources, Government trust funds, Greenhouse gases, Gulf of Mexico, Heat pumps, Home repair and improvement, Housing, Hydroelectric power, Incineration, Income tax, Investment tax credit, Irrigation, Law, Liability for environmental damages, Marine resources, Natural gas, Natural resources, Ocean energy resources, Oil pollution, Oil shales, Oil well drilling, Pensions, Petroleum in submerged lands, Petroleum industry, Petroleum refineries, Public lands, Recycling of waste products, Refuse as fuel, Rural affairs, Rural education, Service stations, Solar energy, Solid wastes, Tankers, Tax credits, Tax deductions, Tax refunds, Taxation, Trade, Transportation, Trucks, Water pollution, Water resources, Wind power
Latest Action: 09/11/2008 - Sponsor introductory remarks on measure. (CR S8392) Bill TextA 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 [...] show full description
Also tagged in: Agricultural wastes, Agriculture, Air pollution, Alaska, Alcohol as fuel, Alternative energy sources, Apartment houses, Armed forces, Bicycles, Biomass energy, Block grants, Bonds, Budgets, Building laws, Business, Business ethics, Buy American, Car pools, Carbon dioxide, Cellulose, Coal, Coastal zone, Cogeneration of electric power and heat, Congress, Congressional reporting requirements, Continental shelf, Corporation taxes, Defense economics, Depreciation and amortization, Diesel motor, Economic policy, Education, Electric appliances, Electric power production, Electric utilities, Electric vehicles, Energy, Energy conservation, Energy crops, Energy development, Energy efficiency, Energy prices, Energy research, Energy security, Energy transportation, Environmental protection, Excise tax, Export controls, Federal aid to education, Federal aid to research, Federal aid to transportation, Federal-state relations, Federally-guaranteed loans, Fees, Fringe benefits, Fuel cells, Gas in submerged lands, Gifts, Government information, Government lending, Government procurement, Government publicity, Green products, Hawaiians, Heat pumps, Higher education, Housing, Housing finance, Housing subsidies, Hydroelectric power, Hydrogen, Income tax, Indian housing, Indians, Inspectors general, Investment tax credit, Labor, Labor contracts, Law, Low-income housing, Marine resources, Marine resources conservation, Mass rapid transit, Minorities, Minority business enterprises, Mortgage guaranty insurance, Mortgages, Motor vehicle pollution control, Natural gas, Natural resources, New York City, Ocean energy resources, Office buildings, Oil and gas leases, Oil and gas royalties, Oil pollution, Oil shales, Oil well drilling, Oils and fats, Petroleum, Petroleum in submerged lands, Petroleum industry, Petroleum reserves, Pipelines, Politics and government, Property insurance, Public contracts, Public housing, Real estate appraisal, Refuse as fuel, Rental housing, Research grants, Rural affairs, Rural economic development, Rural housing, Science policy, Service stations, Small business, Solar energy, Solid wastes, State and local government, Strategic materials, Subpoena, Sustainable development, Tax administration, Tax credits, Tax deductions, Tax exclusion, Tax exemption, Tax incentives, Taxation, Technological innovations, Technology, Tidal power, Trade, Transportation, Trucks, Urban affairs, Urban economic development, Welfare, Wind power, Women, Women in business
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 TextTo 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. [...] show full description
Also tagged in: Administrative procedure, Alien property, American investments, Armed forces, Arms sales, Authorization, Biological warfare, Budgets, Business, Chemical warfare, Congress, Congress and foreign policy, Congressional oversight, Congressional reporting requirements, Corporate accountability, Criminal justice, Defense policy, Department of the Treasury, Energy, Executive departments, Explosives, Export controls, Export finance, Finance, Foreign banks and banking, Foreign investments, Foreign loans, Foreign policy, Government procurement, Import restrictions, Independent regulatory commissions, International affairs, International finance, Investments, Iran, Law, Liquefied natural gas, Middle East and North Africa, Nuclear exports, Nuclear industry, Nuclear nonproliferation, Pension funds, Pensions, Petroleum industry, Pipelines, President and foreign policy, Presidents, Public contracts, Sanctions (International law), Securities and Exchange Commission, Securities regulation, State-sponsored terrorism, Subsidiary corporations, Tankers, Tax-deferred compensation plans, Taxation, Technology, Technology transfer, Terrorism, Trade, Transportation, Weapons of mass destruction, Weapons systems
Latest Action: 08/01/2008 - Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Dodd. With written report No. 110-443. Bill TextAn original bill to impose sanctions with respect to Iran, to provide for the divestment of assets in Iran by State and local governments and other entities, to identify locations of concern with respect to transshipment, reexportation, or diversion of certain sensitive items to Iran, and for other purposes. 8/1/2008--Reported to Senate without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2008 - Title I: Sanctions - (Sec. 102) Amends the Iran Sanctions Act of 1996 (formerly the Iran and Libya Sanctions Act of 1996) to expand the definitions of: (1) "person" to include financial institutions, insurers, underwriters, guarantors, other business organizations, including foreign subsidiaries, and export credit agencies; and (2) "petroleum [...] show full description
Also tagged in: Air pollution, Air pollution control, Business, Depletion allowances, Depreciation and amortization, Energy, Energy storage, Environmental protection, Income tax, Natural gas, Oil pollution, Oil well drilling, Petroleum industry, Tax deductions, Taxation, Waste water treatment, Water pollution, Water pollution control, Water treatment plants
Latest Action: 07/31/2008 - Sponsor introductory remarks on measure. (CR S7952) Bill TextA 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 [...] show full description
Also tagged in: Business, Coal, Energy, Energy development, Finance, Government information, Government paperwork, Government publicity, Information disclosure (Securities law), Metals, Mines and mineral resources, Natural gas, Natural resources, Oil well drilling, Petroleum, Petroleum industry, Prospecting, Securities regulation
Latest Action: 07/31/2008 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextA bill to require, for the benefit of shareholders, the disclosure of payments to foreign governments for the extraction of natural resources, to allow such shareholders more appropriately to determine associated risks. 7/31/2008--Introduced. Extractive Industries Transparency Disclosure Act - Amends the Securities Exchange Act of 1934 to instruct the Securities and Exchange Commission (SEC) to require specified annual reports of an issuer to disclose the total payments made to an agency or instrumentality of a foreign government: (1) for natural resources in a foreign country; or (2) in connection with the extraction of natural resources from a foreign country. Requires compilation of such information so that it is accessible by the public directly from the SEC website without separately accessing the annual reports of each issuer filing the information on the EDGAR system.
Also tagged in: Air pollution, Air pollution control, Business, Depletion allowances, Depreciation and amortization, Energy, Energy storage, Environmental protection, Income tax, Natural gas, Oil pollution, Oil well drilling, Petroleum industry, Tax deductions, Taxation, Waste water treatment, Water pollution, Water pollution control, Water treatment plants
Latest Action: 07/31/2008 - Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as f Bill TextTo provide for marginal well production preservation and 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 establish [...] show full description
Also tagged in: Alternative energy sources, Biomass energy, Bonds, Business, Corporation taxes, Electric power production, Energy, Energy conservation, Energy efficiency, Foreign tax credit, Fuel cells, Geothermal resources, Heating, Home repair and improvement, Housing, Hydroelectric power, Income tax, Natural gas, Oil well drilling, Petroleum industry, Solar energy, Tax credits, Tax deductions, Taxation, Taxation of foreign income, Wind power
Latest Action: 07/25/2008 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to reduce our dependence on foreign oil by investing in clean, renewable, and alternative energy. 7/25/2008--Introduced. New Clean Energy Tax Extenders Act - Amends the Internal Revenue Code to extend various energy production and conservation provisions.Extends through 2012: (1) the tax credits for producing electricity from certain renewable resources (e.g., for wind, biomass, geothermal, and hydropower facilities), for residential energy efficient property, and for investment in clean renewable energy bonds; and (2) the tax deduction for energy efficient commercial buildings. Expands the tax credit for production of electricity from renewable resources to include marine and hydrokinetic renewable energy as a renewable resource. Extends through 2016 the energy tax credits for solar, fuel cell, and microturbine property and the tax credit for residential energy efficient property. Repeals the dollar per [...] show full description
Also tagged in: Appropriations, Budgets, Business, Corporation taxes, Energy, Energy assistance for the poor, Energy conservation, Energy transportation, Finance, Heating, Housing, Income tax, Natural gas, Oil well drilling, Petroleum, Petroleum industry, Petroleum refineries, Tax credits, Tax deductions, Taxation, Transportation, Valuation, Welfare
Latest Action: 07/24/2008 - Read twice and referred to the Committee on Finance. Bill TextA 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.
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