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HR 6182 112th Congress House Taxation Alternative and renewable resources Business investment and capital Electric power generation and transmission Environmental technology Income tax credits Income tax deductions Manufacturing Oil and gas Taxation of foreign income

American Advanced Energy Manufacturing Jobs Act of 2012

Introduced: July 25, 2012 Introduced by: Thompson, Mike Democratic · California 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
Jul 25, 2012
Referred to the House Committee on Ways and Means.
Jul 25, 2012
Introduced in House
 Plain-English summary Congressional Research Service

American Advanced Energy Manufacturing Jobs Act of 2012 - Amends the Internal Revenue Code, with respect to the tax credit for the qualifying advanced energy project program, to: (1) allow, through December 31, 2016, an additional credit amount for the cost of manufacturing equipment that uses solar energy to generate electricity, fuel cell power plants, and systems for the electro-chemical storage of electricity; and (2) increase for 2012 the amount of credits that may be allocated under such program.

Provides for an offset against such increased credit by denying to any major integrated oil company: (1) a foreign tax credit if such company receives a tax preference from a foreign jurisdiction that does not impose a generally applicable income tax, and (2) a tax deduction for intangible drilling and development costs.

What's happening now July 25, 2012

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3