Top Legislation - View All
Also tagged in: Alaska, Business, Continental shelf, Depreciation and amortization, Economic policy, Energy, Energy transportation, Gas in submerged lands, Gas industry, 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: Alaska, Business, Corporation taxes, Electric power transmission, Energy, Energy transportation, Foreign tax credit, Gas in submerged lands, Geology, Geophysical prediction, Gulf of Mexico, Income tax, Inventories, Marine resources, Natural gas, Oil and gas royalties, Oil well drilling, Petroleum in submerged lands, Petroleum industry, Petroleum refineries, Pipelines, Submarine oil well drilling, Tax administration, Tax credits, Tax deductions, Tax deferral, Taxation, Taxation of foreign income, Transportation
Latest Action: 01/22/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to restore fairness in the provision of incentives for oil and gas production, and for other purposes. 1/22/2007--Introduced. Energy Fairness for America Act - Amends the Internal Revenue Code to terminate: (1) the tax deduction for oil and gas intangible drilling and development costs; (2) the percentage depletion allowance for oil and gas wells; and (3) the tax credit for enhanced oil recovery costs. Repeals provisions of the Energy Policy Act of 2005 relating to: (1) oil and gas royalties in-kind; (2) marginal property production incentives; (3) incentives for natural gas production in the Gulf of Mexico; (4) royalty suspension for deep water production; (5) the inventory of Outer Continental Shelf oil and natural gas resources; (6) Alaska offshore royalty suspension; (7) accelerated depreciation of electric transmission property, natural gas distribution lines, and natural gas gathering lines and expensing of liquid fuel refinery property; (8) the exemption [...] show full description
Also tagged in: Business, Depreciation and amortization, Electric vehicles, Energy, Energy research, Energy transportation, Fuel cells, Gas industry, 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.
Also tagged in: Alaska, Business, Corporation taxes, Electric power transmission, Energy, Energy transportation, Foreign tax credit, Gas in submerged lands, Geology, Geophysical prediction, Gulf of Mexico, Income tax, Inventories, Marine resources, Natural gas, Oil and gas royalties, Oil well drilling, Petroleum in submerged lands, Petroleum industry, Petroleum refineries, Pipelines, Submarine oil well drilling, Tax administration, Tax credits, Tax deductions, Tax deferral, Taxation, Taxation of foreign income, Transportation
Latest Action: 02/07/2007 - Referred to the Subcommittee on Energy and Mineral Resources. Bill TextTo restore fairness in the provision of incentives for oil and gas production, and for other purposes. 1/19/2007--Introduced. Energy Fairness for America Act - Amends the Internal Revenue Code to terminate: (1) the tax deduction for oil and gas intangible drilling and development costs; (2) the percentage depletion allowance for oil and gas wells; and (3) the tax credit for enhanced oil recovery costs. Repeals provisions of the Energy Policy Act of 2005 relating to: (1) oil and gas royalties in-kind; (2) marginal property production incentives; (3) incentives for natural gas production in the Gulf of Mexico; (4) royalty suspension for deep water production; (5) the inventory of Outer Continental Shelf oil and natural gas resources; (6) Alaska offshore royalty suspension; (7) accelerated depreciation of electric transmission property, natural gas distribution lines, and natural gas gathering lines and expensing of liquid fuel refinery property; (8) the exemption of small [...] show full description
Also tagged in: Accounting, Alaska, Alternative energy sources, Budgets, Business, Depreciation and amortization, Energy, Energy efficiency, Energy research, Energy transportation, Finance, Foreign tax credit, Gas industry, Geology, Geophysical prediction, Government trust funds, Income tax, Inventories, Natural gas, Oil well drilling, Petroleum industry, Pipelines, Research and development, Science policy, Tax credits, Tax deductions, Taxation, Valuation
Latest Action: 02/16/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to terminate certain incentives for oil and gas. 2/16/2007--Introduced. Oil Industry Tax Break Repeal Act of 2007 - Amends the Internal Revenue Code to: (1) increase the amortization period for the geological and geophysical expenditures of certain large integrated oil companies (defined as having an average daily worldwide crude oil production level of at least 500,000 barrels and more than $1 billion in gross receipts) from five to seven years; (2) limit the oil depletion allowance; (3) terminate accelerated depreciation of natural gas distribution lines and Alaska natural gas pipelines, expensing of equipment used in refining of liquid fuels, the tax deduction for intangible drilling and development costs, and the tax credits for enhanced oil recovery and for producing oil and gas from marginal wells; (4) classify natural gas gathering lines as 15-year property for depreciation purposes; and (5) deny large integrated oil [...] show full description
Latest Action: 03/15/2007 - Sponsor introductory remarks on measure. (CR S3212) Bill TextA bill to amend the Internal Revenue Code of 1986 to eliminate the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties. 3/15/2007--Introduced. Amends the Internal Revenue Code to make permanent the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.
Also tagged in: Administrative procedure, Alaska, Alternative energy sources, Automobiles, Budgets, Business, Condominium (Housing), Conservation of natural resources, Continental shelf, Cooperative housing, Department of Transportation, Depreciation and amortization, Education, Electric power production, Electric utilities, Elementary and secondary education, Energy, Energy conservation, Energy conservation in buildings, Energy efficiency, Energy prices, Energy research, Energy supplies, Energy transportation, Environmental protection, Executive departments, Federal aid to education, Fees, Fines (Penalties), Fuel cells, Fuel consumption, Gas in submerged lands, Gas industry, Geology, Geophysical prediction, Geothermal resources, Government procurement, Gulf of Mexico, Housing, Hydroelectric power, Income tax, Investment tax credit, Landfills, Law, Marine resources, Methane, Natural gas, Natural resources, Nuclear power plants, Ocean energy resources, Oil and gas leases, Oil and gas royalties, Oil well drilling, Petroleum, Petroleum in submerged lands, Petroleum industry, Petroleum refineries, Petroleum reserves, Pipelines, Propane, Prospecting, Public contracts, Public lands, Refuse as fuel, School buildings, Science policy, Secondary recovery of gas, Secondary recovery of oil, Small business, Solar energy, Solid wastes, Standards, Submarine oil well drilling, Subsidies, Tax credits, Tax deductions, Taxation, Tidal power, Transportation, Water resources, Wind power
Latest Action: 03/01/2007 - Referred to the Subcommittee on Energy and Mineral Resources. Bill TextTo provide for the energy independence of the United States. 2/16/2007--Introduced. Freedom through Renewable Energy Expansion (FREE) Act - Amends the Energy Policy Act of 2005 to repeal provisions regarding: (1) the next generation nuclear plant project; (2) standby support for certain nuclear plant delays; and (3) incentives for oil and gas production from federal lands. Amends the Internal Revenue Code (IRC) to repeal: (1) the credit for production from advanced nuclear power facilities; (2) the election to expense certain refineries; (3) treatment of natural gas distribution lines as 15-year property; (4) treatment of natural gas gathering lines as seven-year property; (5) the rule for determining the small refiner exception to the oil depletion deduction; and (6) the amortization of geological and geophysical expenditures. Amends the Outer Continental Shelf Lands Act and the Naval Petroleum Reserves Production Act of 1976 to repeal the suspension of: (1) [...] show full description
Also tagged in: Administrative procedure, Air pollution, Air pollution control, Alcohol as fuel, Alternative energy sources, Automobile industry, Automobile tires, Automobiles, Business, Carbon dioxide, Cellulose, Climate change, Corporation taxes, Department of Transportation, Depreciation and amortization, Electric power plants, Electric power production, Electric vehicles, Energy, Energy conservation, Energy efficiency, Environmental protection, Environmental Protection Agency, Environmental research, Executive departments, Fuel consumption, Gasoline, Geology, Geophysical prediction, Government vehicles, Greenhouse gases, Housing, Income tax, Law, Mercury, Motor vehicle pollution control, Natural gas, Natural resources, Nitrogen oxides, Petroleum industry, Science policy, Standards, Sugar, Sulphur dioxide, Tax credits, Tax deductions, Taxation, Transportation, Trucks
Latest Action: 06/06/2007 - Sponsor introductory remarks on measure. (CR S7181-7184) Bill TextA bill to comprehensively address challenges relating to energy independence, air pollution, and climate change facing the United States. 6/6/2007--Introduced. Energy Independence, Clean Air, and Climate Security Act of 2007 - Fuel Economy Improvement Act - Revises corporate average fuel economy standards (CAFE Standards) provisions for automobiles and light trucks, including requiring the Secretary of Transportation to prescribe graduated increased average fuel economy standards for passenger automobiles and light trucks beginning in model year 2010 in order to achieve a combined average fuel economy standard of at least 35 miles per gallon beginning in model year 2019, and of at least 45 miles per gallon beginning in model year 2030 (or such other number of miles per gallon as the Secretary may prescribe). Prohibits such regulations from making any distinction between passenger automobiles and light trucks by not later than model year 2013 (effectively eliminating the SUV [...] show full description
Also tagged in: Air pollution, Air pollution control, Alaska, Alcohol as fuel, Alternative energy sources, Automobile industry, Automobile tires, Automobiles, Biomass energy, Budgets, Business, Cellulose, Clean coal technology, Coal, Coastal zone, Congressional reporting requirements, Consumers, Continental shelf, Corporation taxes, Depreciation and amortization, Education, Electric appliances, Electric power production, Electric power transmission, Electric utilities, Electric vehicles, Energy, Energy conservation, Energy conservation in buildings, Energy efficiency, Energy research, Energy storage, Environmental assessment, Environmental protection, Environmental technology, Federal aid to education, Federal aid to research, Federal aid to transportation, Federal preemption, Fuel consumption, Gas companies, Gas in submerged lands, Gas industry, Geology, Geophysical prediction, Government vehicles, Grants-in-aid, Gulf of Mexico, Higher education, Hydrogen, Income tax, Labeling, Law, Licenses, Marine resources, Mass rapid transit, Natural gas vehicles, Nuclear facility decommissioning, Nuclear power plants, Oil and gas royalties, Petroleum in submerged lands, Petroleum industry, Pipelines, Research and development, Research grants, Secondary recovery of gas, Secondary recovery of oil, Solar energy, Standards, State and local government, State laws, Tax credits, Tax deductions, Tax incentives, Taxation, Technological innovations, Technology, Transportation, Trucks, Urban affairs, Urban transportation, Water conservation, Water resources, Water use, Wind power
Latest Action: 05/08/2007 - Referred to the Subcommittee on Energy and Environment. Bill TextTo improve the energy efficiency of the United States. 4/19/2007--Introduced. Energy For Our Future Act - Amends the Internal Revenue Code to: (1) repeal the limitation on the number of new qualified hybrid and advanced lean-burn technology vehicles eligible for the credit; (2) provide tax credits for manufacturers of fuel efficient motor vehicles; and (3) subject sports utility vehicles (SUVs) to the limitation on the depreciation of certain luxury automobiles. Sets forth a grant program for development of transit-oriented development corridors in urban areas.Amends federal transportation law to: (1) revise phased increases in automobile fuel economy standards; (2) set forth a national passenger car and light truck tire efficiency program; and (3) prescribe heavy duty vehicle fuel economy requirements.Amends the Energy Conservation and Production Act to double the appropriations authorized for weatherization assistance.Authorizes appropriations [...] show full description
Latest Action: 10/18/2007 - Referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to extend the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties. 10/18/2007--Introduced. Amends the Internal Revenue Code to extend through 2009 the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.
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Latest Legislation - View All
Also tagged in: Agriculture, Air conditioning, Alcohol tax, Alcoholic beverages, Alternative energy sources, American Samoa, Biomass energy, Books, Business, Capital gains tax, Charitable contributions, College costs, Corporation taxes, Criminal justice, Department of the Treasury, Depreciation and amortization, Depressed areas, Diesel motor, Economic development, Economic policy, Education, Education of the disadvantaged, Electric appliances, Electric power transmission, Electric utilities, Elementary and secondary education, Emergency management, Energy, Energy conservation, Energy efficiency, Enterprise zones, Environmental protection, Executive departments, Finance, Food, Foreign corporations, Fuel cells, Health insurance, Health policy, Heat pumps, Heating, Higher education, Holding companies, Housing, Humanities, Hurricanes, Incineration, Income tax, Indian economic development, Insurance, Internal Revenue Service (IRS), Inventories, Irrigation, Labor, Leases, Local taxation, Medical care, Military pay, Mine safety, Minimum tax, Minorities, Minority employment, Motion pictures, Mutual funds, Ocean energy resources, Pensions, Puerto Rico, Railroad engineering, Refrigeration, Refuse as fuel, Rescue work, Research and development tax credit, Restaurants, Rural affairs, Sales tax, School buildings, Science policy, Small business, Social security, Social security taxes, Solar energy, Solid wastes, Sports, State and local government, State taxation, Stocks, Subsidiary corporations, Tax administration, Tax credits, Tax deductions, Tax exclusion, Tax exemption, Tax returns, Tax-exempt organizations, Taxation, Taxation of foreign income, Teachers, Television industry, Terrorism, Tidal power, Trade, Transportation, Undercover operations, Veterans, Virgin Islands, Water conservation, Water resources
Latest Action: 06/09/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 771. Bill TextA bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. 6/6/2008--Introduced. Alternative Minimum Tax and Extenders Tax Relief Act of 2008 - Amends the Internal Revenue Code to extend expiring provisions relating to the alternative minimum tax, individual and business taxpayers, energy conservation, and tax administration. Extends through 2008 for individual taxpayers: (1) the offset of nonrefundable personal tax credits against regular and alternative minimum tax (AMT) liabilities; and (2) the increased AMT exemption amounts. Extends through 2009: (1) the election to deduct state and local sales taxes in lieu of state and local income taxes; (2) the tax deductions for qualified tuition and related expenses and for certain expenses of elementary and secondary school teachers; (3) tax-free distributions from individual retirement accounts (IRAs) for charitable purposes; and (4) tax rules for treatment of [...] show full description
Also tagged in: Agriculture, Budgets, Business, Energy, Environmental protection, Government trust funds, Income tax, Land subsidence, Mine wastes, Mines and mineral resources, Mining claims, Natural resources, Public lands, Reclamation of land, Revegetation, Sedimentation, Soil erosion, Solid wastes, Strip mining, Tax deductions, Taxation, Water pollution, Water pollution control
Latest Action: 11/01/2007 - Sponsor introductory remarks on measure. (CR S13687-13688) Bill TextA bill to amend the Internal Revenue Code of 1986 to repeal the percentage depletion allowance for certain hardrock mines, and for other purposes. 11/1/2007--Introduced. Elimination of Double Subsidies for the Hardrock Mining Industry Act of 2007 - Amends the Internal Revenue Code to disallow the percentage depletion allowance for hardrock mines located on land currently subject to the general mining laws, or on land patented under such laws. Establishes in the Treasury the Abandoned Mine Reclamation Trust Fund. Appropriates to such Fund amounts equal to 25% of the additional revenues received due to the disallowance of the depletion allowance for hardrock mines proposed by this Act. Prescribes guidelines under which such Fund shall be available to the Secretary of the Interior for reclamation and restoration of lands and water resources adversely affected by mineral and mineral material mining (excluding coal and fluid minerals).
Latest Action: 10/24/2007 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 440. Bill TextA bill to amend the Internal Revenue Code of 1986 to extend the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties. 10/23/2007--Introduced. Amends the Internal Revenue Code to extend through 2009 the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.
Latest Action: 10/18/2007 - Referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to extend the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties. 10/18/2007--Introduced. Amends the Internal Revenue Code to extend through 2009 the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.
Also tagged in: Administrative procedure, Air pollution, Air pollution control, Alcohol as fuel, Alternative energy sources, Automobile industry, Automobile tires, Automobiles, Business, Carbon dioxide, Cellulose, Climate change, Corporation taxes, Department of Transportation, Depreciation and amortization, Electric power plants, Electric power production, Electric vehicles, Energy, Energy conservation, Energy efficiency, Environmental protection, Environmental Protection Agency, Environmental research, Executive departments, Fuel consumption, Gasoline, Geology, Geophysical prediction, Government vehicles, Greenhouse gases, Housing, Income tax, Law, Mercury, Motor vehicle pollution control, Natural gas, Natural resources, Nitrogen oxides, Petroleum industry, Science policy, Standards, Sugar, Sulphur dioxide, Tax credits, Tax deductions, Taxation, Transportation, Trucks
Latest Action: 06/06/2007 - Sponsor introductory remarks on measure. (CR S7181-7184) Bill TextA bill to comprehensively address challenges relating to energy independence, air pollution, and climate change facing the United States. 6/6/2007--Introduced. Energy Independence, Clean Air, and Climate Security Act of 2007 - Fuel Economy Improvement Act - Revises corporate average fuel economy standards (CAFE Standards) provisions for automobiles and light trucks, including requiring the Secretary of Transportation to prescribe graduated increased average fuel economy standards for passenger automobiles and light trucks beginning in model year 2010 in order to achieve a combined average fuel economy standard of at least 35 miles per gallon beginning in model year 2019, and of at least 45 miles per gallon beginning in model year 2030 (or such other number of miles per gallon as the Secretary may prescribe). Prohibits such regulations from making any distinction between passenger automobiles and light trucks by not later than model year 2013 (effectively eliminating the SUV [...] show full description
Also tagged in: Air pollution, Air pollution control, Alaska, Alcohol as fuel, Alternative energy sources, Automobile industry, Automobile tires, Automobiles, Biomass energy, Budgets, Business, Cellulose, Clean coal technology, Coal, Coastal zone, Congressional reporting requirements, Consumers, Continental shelf, Corporation taxes, Depreciation and amortization, Education, Electric appliances, Electric power production, Electric power transmission, Electric utilities, Electric vehicles, Energy, Energy conservation, Energy conservation in buildings, Energy efficiency, Energy research, Energy storage, Environmental assessment, Environmental protection, Environmental technology, Federal aid to education, Federal aid to research, Federal aid to transportation, Federal preemption, Fuel consumption, Gas companies, Gas in submerged lands, Gas industry, Geology, Geophysical prediction, Government vehicles, Grants-in-aid, Gulf of Mexico, Higher education, Hydrogen, Income tax, Labeling, Law, Licenses, Marine resources, Mass rapid transit, Natural gas vehicles, Nuclear facility decommissioning, Nuclear power plants, Oil and gas royalties, Petroleum in submerged lands, Petroleum industry, Pipelines, Research and development, Research grants, Secondary recovery of gas, Secondary recovery of oil, Solar energy, Standards, State and local government, State laws, Tax credits, Tax deductions, Tax incentives, Taxation, Technological innovations, Technology, Transportation, Trucks, Urban affairs, Urban transportation, Water conservation, Water resources, Water use, Wind power
Latest Action: 05/08/2007 - Referred to the Subcommittee on Energy and Environment. Bill TextTo improve the energy efficiency of the United States. 4/19/2007--Introduced. Energy For Our Future Act - Amends the Internal Revenue Code to: (1) repeal the limitation on the number of new qualified hybrid and advanced lean-burn technology vehicles eligible for the credit; (2) provide tax credits for manufacturers of fuel efficient motor vehicles; and (3) subject sports utility vehicles (SUVs) to the limitation on the depreciation of certain luxury automobiles. Sets forth a grant program for development of transit-oriented development corridors in urban areas.Amends federal transportation law to: (1) revise phased increases in automobile fuel economy standards; (2) set forth a national passenger car and light truck tire efficiency program; and (3) prescribe heavy duty vehicle fuel economy requirements.Amends the Energy Conservation and Production Act to double the appropriations authorized for weatherization assistance.Authorizes appropriations [...] show full description
Latest Action: 03/15/2007 - Sponsor introductory remarks on measure. (CR S3212) Bill TextA bill to amend the Internal Revenue Code of 1986 to eliminate the taxable income limit on percentage depletion for oil and natural gas produced from marginal properties. 3/15/2007--Introduced. Amends the Internal Revenue Code to make permanent the suspension of the taxable income limitation on percentage depletion for oil and natural gas produced from marginal properties.
Also tagged in: Accounting, Alaska, Alternative energy sources, Budgets, Business, Depreciation and amortization, Energy, Energy efficiency, Energy research, Energy transportation, Finance, Foreign tax credit, Gas industry, Geology, Geophysical prediction, Government trust funds, Income tax, Inventories, Natural gas, Oil well drilling, Petroleum industry, Pipelines, Research and development, Science policy, Tax credits, Tax deductions, Taxation, Valuation
Latest Action: 02/16/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to amend the Internal Revenue Code of 1986 to terminate certain incentives for oil and gas. 2/16/2007--Introduced. Oil Industry Tax Break Repeal Act of 2007 - Amends the Internal Revenue Code to: (1) increase the amortization period for the geological and geophysical expenditures of certain large integrated oil companies (defined as having an average daily worldwide crude oil production level of at least 500,000 barrels and more than $1 billion in gross receipts) from five to seven years; (2) limit the oil depletion allowance; (3) terminate accelerated depreciation of natural gas distribution lines and Alaska natural gas pipelines, expensing of equipment used in refining of liquid fuels, the tax deduction for intangible drilling and development costs, and the tax credits for enhanced oil recovery and for producing oil and gas from marginal wells; (4) classify natural gas gathering lines as 15-year property for depreciation purposes; and (5) deny large integrated oil [...] show full description
Also tagged in: Administrative procedure, Alaska, Alternative energy sources, Automobiles, Budgets, Business, Condominium (Housing), Conservation of natural resources, Continental shelf, Cooperative housing, Department of Transportation, Depreciation and amortization, Education, Electric power production, Electric utilities, Elementary and secondary education, Energy, Energy conservation, Energy conservation in buildings, Energy efficiency, Energy prices, Energy research, Energy supplies, Energy transportation, Environmental protection, Executive departments, Federal aid to education, Fees, Fines (Penalties), Fuel cells, Fuel consumption, Gas in submerged lands, Gas industry, Geology, Geophysical prediction, Geothermal resources, Government procurement, Gulf of Mexico, Housing, Hydroelectric power, Income tax, Investment tax credit, Landfills, Law, Marine resources, Methane, Natural gas, Natural resources, Nuclear power plants, Ocean energy resources, Oil and gas leases, Oil and gas royalties, Oil well drilling, Petroleum, Petroleum in submerged lands, Petroleum industry, Petroleum refineries, Petroleum reserves, Pipelines, Propane, Prospecting, Public contracts, Public lands, Refuse as fuel, School buildings, Science policy, Secondary recovery of gas, Secondary recovery of oil, Small business, Solar energy, Solid wastes, Standards, Submarine oil well drilling, Subsidies, Tax credits, Tax deductions, Taxation, Tidal power, Transportation, Water resources, Wind power
Latest Action: 03/01/2007 - Referred to the Subcommittee on Energy and Mineral Resources. Bill TextTo provide for the energy independence of the United States. 2/16/2007--Introduced. Freedom through Renewable Energy Expansion (FREE) Act - Amends the Energy Policy Act of 2005 to repeal provisions regarding: (1) the next generation nuclear plant project; (2) standby support for certain nuclear plant delays; and (3) incentives for oil and gas production from federal lands. Amends the Internal Revenue Code (IRC) to repeal: (1) the credit for production from advanced nuclear power facilities; (2) the election to expense certain refineries; (3) treatment of natural gas distribution lines as 15-year property; (4) treatment of natural gas gathering lines as seven-year property; (5) the rule for determining the small refiner exception to the oil depletion deduction; and (6) the amortization of geological and geophysical expenditures. Amends the Outer Continental Shelf Lands Act and the Naval Petroleum Reserves Production Act of 1976 to repeal the suspension of: (1) [...] show full description
Also tagged in: Alaska, Business, Corporation taxes, Electric power transmission, Energy, Energy transportation, Foreign tax credit, Gas in submerged lands, Geology, Geophysical prediction, Gulf of Mexico, Income tax, Inventories, Marine resources, Natural gas, Oil and gas royalties, Oil well drilling, Petroleum in submerged lands, Petroleum industry, Petroleum refineries, Pipelines, Submarine oil well drilling, Tax administration, Tax credits, Tax deductions, Tax deferral, Taxation, Taxation of foreign income, Transportation
Latest Action: 01/22/2007 - Read twice and referred to the Committee on Finance. Bill TextA bill to restore fairness in the provision of incentives for oil and gas production, and for other purposes. 1/22/2007--Introduced. Energy Fairness for America Act - Amends the Internal Revenue Code to terminate: (1) the tax deduction for oil and gas intangible drilling and development costs; (2) the percentage depletion allowance for oil and gas wells; and (3) the tax credit for enhanced oil recovery costs. Repeals provisions of the Energy Policy Act of 2005 relating to: (1) oil and gas royalties in-kind; (2) marginal property production incentives; (3) incentives for natural gas production in the Gulf of Mexico; (4) royalty suspension for deep water production; (5) the inventory of Outer Continental Shelf oil and natural gas resources; (6) Alaska offshore royalty suspension; (7) accelerated depreciation of electric transmission property, natural gas distribution lines, and natural gas gathering lines and expensing of liquid fuel refinery property; (8) the exemption [...] show full description
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