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HR 3856 101th Congress House Taxation Energy assistance for the poor Energy policy Excess profits tax Government trust funds Heating Petroleum Petroleum prices Public assistance programs

To amend the Internal Revenue Code of 1986 to impose an excise tax on windfall profits derived from home heating oil, and for other purposes.

Introduced: January 23, 1990 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 23, 1990
Referred to the House Committee on Ways and Means.
Jan 23, 1990
Introduced in House
 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to impose a 90-percent excise tax on the windfall profit from home heating oil sold by the producer or importer, who shall pay the tax.

Establishes the Home Heating Oil Trust Fund and appropriates to it the excise taxes received from home heating oil windfall profits. Makes amounts in such Fund available for grants under the Low-Income Home Energy Assistance Act of 1981.

What's happening now January 23, 1990

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1