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HR 4420 109th Congress House Energy Alternative energy sources Appropriations Commerce Department of Energy Department of Health and Human Services Depreciation and amortization Diesel motor Economics and Public Finance Energy assistance for the poor Energy conservation Energy efficiency Environmental Protection Federal budgets Gas industry Government Operations and Politics Home repair and improvement Housing and Community Development Natural gas Off-budget expenditures

To repeal tax subsidies enacted by the Energy Policy Act of 2005 for oil and gas, to repeal certain other oil and gas subsidies in the Internal Revenue Code of 1986, and to use the proceeds to carry out the Low-Income Home Energy Assistance Act of 1981 and to provide weatherization assistance.

Introduced: November 18, 2005 Introduced by: Sanders, Bernard Independent · Vermont See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 27, 2006
Referred to the Subcommittee on Education Reform.
Dec 2, 2005
Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.
Nov 18, 2005
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and the Workforce, and the Budget, 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.
Nov 18, 2005
Introduced in House
 Plain-English summary Congressional Research Service

Amends the Energy Policy Act of 2005 to repeal tax provisions that allow: (1) a taxpayer election to expense 50% of the cost of crude oil refinery property with a specified production capacity placed in service before January 1, 2008; and (2) the amortization of geological and geophysical expenditures for the exploration for, or development of, oil or gas within the United States over a 24-month period.

Amends the Internal Revenue Code to repeal: (1) enhanced oil recovery credits; (2) credit for production of low sulphur diesel fuel; (3) credit for producing fuel from a nonconventional source; (4) the deduction for capital costs incurred in complying with Environmental Protection Agency sulfur regulations; and (5) the deduction of expenses for intangible drilling and development costs for oil wells, gas wells, and geothermal wells.

Appropriates specified amounts to: (1) the Secretary of Health and Human Services for allotment of emergency funds for low-income home energy assistance, and (2) the Secretary of Energy to carry out weatherization assistance.

What's happening now March 27, 2006

Referred to the Subcommittee on Education Reform.

 Committees of jurisdiction 6