S. 3561 · 110th Congress
HEATR Act of 2008
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
ClintonSponsorNo cosponsors.
Home Energy Affordability Tax Relief Act of 2008 or the HEATR Act of 2008 - Amends the Internal Revenue Code to allow individual taxpayers an income-based refundable tax credit for residential energy costs. Limits such credit to the lesser of 33% of such costs or $500.
What it does: CRS summary · Introduced in Senate · Sep 24, 2008
Home Energy Affordability Tax Relief Act of 2008 or the HEATR Act of 2008 - Amends the Internal Revenue Code to allow individual taxpayers an income-based refundable tax credit for residential energy costs. Limits such credit to the lesser of 33% of such costs or $500.
Eliminates for major integrated oil companies: (1) the tax deduction for intangible drilling and development costs in taxable years in which the average price of crude oil is greater than $34.71 per barrel and the average price of natural gas is greater that $4.34 per 1,000 cubic feet; and (2) the tax credit for enhanced oil recovery costs in taxable years in which the average price of crude oil is greater than $34.71 per barrel. Denies such oil companies and certain producers or refiners of crude oil a foreign tax credit for payments to certain foreign countries or U.S. possessions from which they receive a specified economic benefit as a dual capacity taxpayer.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: HEATR Act of 2008
Also known as: Home Energy Affordability Tax Relief Act of 2008
Latest action (Sep 24, 2008): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Sep 24, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.