S. 3908 · 109th Congress
Oil Independence, Limiting Subsidies, and Accelerating Vehicle Efficiency (OILSAVE) Act
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WydenSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Oil Independence, Limiting Subsidies, and Accelerating Vehicle Efficiency (OILSAVE) Act - Amends the Internal Revenue Code to allow a tax credit for the purchase of a new qualified fuel-efficient motor vehicle.
What it does: CRS summary · Introduced in Senate · Sep 18, 2006
Oil Independence, Limiting Subsidies, and Accelerating Vehicle Efficiency (OILSAVE) Act - Amends the Internal Revenue Code to allow a tax credit for the purchase of a new qualified fuel-efficient motor vehicle. Defines "new qualified fuel-efficient motor vehicle" as a passenger automobile with a fuel economy rating of not less than 34.5 miles per gallon or a light truck with a 27.5 miles per gallon rating which are manufactured for model years 2007-2011.
Denies major integrated oil companies (companies with an average daily production of crude oil of at least 500,000 barrels and gross receipts in excess of $1 billion for a taxable year) the option to expense intangible drilling and development costs.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Oil Independence, Limiting Subsidies, and Accelerating Vehicle Efficiency (OILSAVE) Act
Latest action (Sep 18, 2006): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9683-9684)
Policy area: Taxation · Origin: Senate · Introduced: Sep 18, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.