S. 2641 · 118th Congress
Financing Our Energy Future Act
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CoonsSponsor10 cosponsors · 3 D, 6 R, 1 I
R
Braun
AK
I
King
JM
R
Moran
DS
D
Stabenow
MW
D
Warner
SC
R
Collins
JB
R
Barrasso
MC
R
Crapo
TC
D
Carper
RM
R
Marshall5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill expands the types of partnerships that qualify for treatment as publicly traded partnerships instead of as corporations for tax purposes.
What it does: CRS summary · Introduced in Senate · Jul 27, 2023
Financing Our Energy Future Act
This bill expands the types of partnerships that qualify for treatment as publicly traded partnerships instead of as corporations for tax purposes.
Under current law, partnerships that meet certain gross income requirements (i.e., at least 90% of the partnership's gross income in a taxable year consists of qualifying income) are excepted from being treated as a corporation for tax purposes. This bill expands the sources of income that are considered qualifying income and make a partnership eligible for such an exception.
Specifically, the bill provides that income derived from the generation of specified alternative energy, alternative fuel projects, or the associated property, storage, or transportation for such projects (e.g., the conversion of renewable biomass into renewable fuel or the storage or transportation of such fuel) is considered qualifying income.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Financing Our Energy Future Act
Latest action (Jul 27, 2023): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jul 27, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.