HR 4026
109th Congress
House
Taxation
Commerce
Costs
Depreciation and amortization
Diesel motor
Energy
Energy prices
Gas industry
Gasoline
Heating
Income tax
Natural gas
Oil well drilling
Petroleum
Petroleum industry
Prospecting
Tax credits
Tax deductions
Transportation and Public Works
Middle Class Energy Initiative Act of 2005
Introduced: October 7, 2005
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 7, 2005
Referred to the House Committee on Ways and Means.
Oct 7, 2005
Introduced in House
Plain-English summary
Middle Class Energy Initiative Act of 2005 - Amends the Internal Revenue Code to allow individuals a $500 tax credit for: (1) gasoline and diesel fuel expenses; and (2) home energy consumption expenses. Denies the credit for taxpayers whose adjusted gross income is twice the state median adjusted gross income.
Limits the amortization of geological and geophysical expenses to 90 percent of such expenses.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1