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HR 3712 109th Congress House Energy Agriculture and Food Energy assistance for the poor Excess profits tax Food stamps Gasoline Natural gas Petroleum Social Welfare Taxation

Gas Stamps Act of 2005

Introduced: September 8, 2005 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 19, 2005
Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.
Sep 8, 2005
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sep 8, 2005
Introduced in House
 Plain-English summary Congressional Research Service

Gas Stamps Act of 2005 - Directs the Secretary of Energy to: (1) establish a program for the equitable allocation among the states of gas stamps for distribution to individuals eligible to receive food stamps who can demonstrate a need for gasoline; and (2) provide for the distribution of gas stamps in conjunction with the distribution of food stamps, in coordination with the Secretary of Agriculture.

Sets a $330 million limit for such national distribution in each of the first three months after enactment of this Act.

Amends the Internal Revenue Code to impose an excise tax upon the sale in the United States of any crude oil, natural gas, and any fuel which is a product of crude oil or natural gas, equal to the windfall profit on such sale.

Defines "windfall profit" as so much of the profit on such sale as exceeds a 15 percent pretax rate of return.

Imposes liability for the windfall profits tax upon the seller.

What's happening now September 19, 2005

Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.

 Committees of jurisdiction 3
 Cosponsors 1
All 1 Democratic 1