S. 752 · 115th Congress
Tar Sands Tax Loophole Elimination Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MarkeySponsor2 cosponsors · 1 D, 1 I
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to expand the definition of "crude oil" for purposes of the excise tax on petroleum and petroleum products to include any bitumen or bituminous mixture, any oil derived from a bitumen or bituminous mixture (tar sands), and any oil derived from kerogen-bearing sources (oil shale).
What it does: CRS summary · Introduced in Senate · Mar 28, 2017
Tar Sands Tax Loophole Elimination Act
This bill amends the Internal Revenue Code to expand the definition of "crude oil" for purposes of the excise tax on petroleum and petroleum products to include any bitumen or bituminous mixture, any oil derived from a bitumen or bituminous mixture (tar sands), and any oil derived from kerogen-bearing sources (oil shale).
The bill also authorizes the Department of the Treasury to classify as crude oil or as a petroleum product subject to such tax any fuel feedstock or finished fuel product transported by pipeline, vessel, railcar, or tanker truck if such classification is consistent with the definition of oil under the Oil Pollution Act of 1990 and such fuel feedstock or finished fuel product is produced in sufficient commercial quantities as to pose a significant risk of hazard in the event of a discharge.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Tar Sands Tax Loophole Elimination Act
Latest action (Mar 28, 2017): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Mar 28, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.