HR 3379
111th Congress
House
Taxation
Commodities markets
Financial services and investments
Government trust funds
Oil and gas
Roads and highways
Sales and excise taxes
Tax administration and collection, taxpayers
Transportation programs funding
LOPSIDED Oil Prices Act of 2009
Introduced: July 29, 2009
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 2009
Referred to the House Committee on Ways and Means.
Jul 29, 2009
Introduced in House
Plain-English summary
Lowering Oil Price Speculation for Infrastructure Dedicated to Economic Development Act of 2009 or the LOPSIDED Oil Prices Act of 2009 - Amends the Internal Revenue Code to: (1) impose an excise tax on transactions in oil futures and options, to be paid by the trading facility on which the transactions occur or the buyer of the transactions; (2) require withholding of such tax; and (3) deposit revenues from the tax into the Highway Trust Fund. Exempts from such tax certain commercial oil traders and bona fide hedging transactions.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1