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H.R. 585 · 108th Congress

National Defense Oil Equity Act of 2003

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

5 cosponsors · 4 D, 1 I

0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

National Defense Oil Equity Act of 2003 - Amends the Internal Revenue Code to impose an excise tax on the sale of any crude oil or product of crude oil a tax equal to the applicable percentage of the windfall profit on such sale. Defines windfall profit to mean so much of the profit on such sale as exceeds a reasonable profit.

What it does: CRS summary · Introduced in House · Feb 5, 2003
National Defense Oil Equity Act of 2003 - Amends the Internal Revenue Code to impose an excise tax on the sale of any crude oil or product of crude oil a tax equal to the applicable percentage of the windfall profit on such sale. Defines windfall profit to mean so much of the profit on such sale as exceeds a reasonable profit. Establishes the Reasonable Profits Board to make reasonable profit determinations.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: National Defense Oil Equity Act of 2003

Latest action (Feb 5, 2003): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Feb 5, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.