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S 884 112th Congress Senate Taxation Alternative and renewable resources Business investment and capital Energy prices Income tax credits Income tax deductions Motor fuels Oil and gas Sales and excise taxes Tariffs

Domestic Energy Promotion Act of 2011

Introduced: May 4, 2011 Introduced by: Grassley, Chuck Republican · Iowa 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
May 4, 2011
Read twice and referred to the Committee on Finance.
May 4, 2011
Sponsor introductory remarks on measure. (CR S2688)
May 4, 2011
Introduced in Senate
 Plain-English summary Congressional Research Service

Domestic Energy Promotion Act of 2011 - Amends the Internal Revenue Code to: (1) reduce the volumetric ethanol excise tax credit (VEETC) to 20 cents per gallon in 2012 and 15 cents per gallon in 2013; (2) link the amount of such credit to the price of crude oil for calendar quarters beginning after 2013; (3) modify the rates of the income tax credit for alcohol used as fuel and extend such credit through 2016; and (4) extend through 2016 the alternative fuel refueling property tax credit, the cellulosic producers' tax credit, and the special depreciation allowance for cellulosic biofuel plant property.

Amends the Harmonized Tariff Schedule of the United States to reduce by specified amounts through 2016 the additional duties on ethyl alcohol blends (ethanol) used as fuel.

What's happening now May 4, 2011

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1