To repeal tax subsidies enacted by the Energy Policy Act of 2005 for oil and gas, to repeal certain other oil and gas subsidies in the Internal Revenue Code of 1986, and to use the proceeds to carry out the Low-Income Home Energy Assistance Act of 1981 and to provide weatherization assistance.

Bill: 109-hr-4420
Sponsor: Rep. Sanders, Bernard [I-VT-At Large]
Introduced: 2005-11-18 in the House
Policy area: Energy
Subjects: Alternative energy sources
Appropriations
Commerce
Department of Energy
Department of Health and Human Services
Depreciation and amortization
Diesel motor
Economics and Public Finance
Energy assistance for the poor
Energy conservation
Energy efficiency
Environmental Protection
Federal budgets
Gas industry
Government Operations and Politics
Home repair and improvement
Housing and Community Development
Natural gas
Off-budget expenditures
Oil well drilling
Petroleum
Petroleum engineering
Petroleum industry
Petroleum refineries
Secondary recovery of gas
Secondary recovery of oil
Social Welfare
Sulphur
Tax credits
Tax deductions
Transportation and Public Works

Summary:
action_date: 2005-11-18
text: 
Amends the Energy Policy Act of 2005 to repeal tax provisions that allow: (1) a taxpayer election to expense 50% of the cost of crude oil refinery property with a specified production capacity placed in service before January 1, 2008; and (2) the amortization of geological and geophysical expenditures for the exploration for, or development of, oil or gas within the United States over a 24-month period.
 
Amends the Internal Revenue Code to repeal: (1) enhanced oil recovery credits; (2) credit for production of low sulphur diesel fuel; (3) credit for producing fuel from a nonconventional source; (4) the deduction for capital costs incurred in complying with Environmental Protection Agency sulfur regulations; and (5) the deduction of expenses for intangible drilling and development costs for oil wells, gas wells, and geothermal wells. 
 
Appropriates specified amounts to: (1) the Secretary of Health and Human Services for allotment of emergency funds for low-income home energy assistance, and (2) the Secretary of Energy to carry out weatherization assistance.


Legislative actions:
action_date: 2006-03-27
text: Referred to the Subcommittee on Education Reform.
action_date: 2005-12-02
text: Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.
action_date: 2005-11-18
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and the Workforce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-11-18
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and the Workforce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-11-18
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and the Workforce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-11-18
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and the Workforce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-11-18
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and the Workforce, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2005-11-18
text: Introduced in House
action_date: 2005-11-18
text: Introduced in House