Energy Policy Reinvestment Act of 2007

Bill: 110-hr-498
Sponsor: Rep. Wynn, Albert Russell [D-MD-4]
Introduced: 2007-01-16 in the House
Policy area: Taxation
Subjects: Commerce
Depletion allowances
Depreciation and amortization
Electric vehicles
Energy
Energy research
Energy transportation
Fuel cells
Gas industry
Geology
Geophysical prediction
Government Operations and Politics
Government procurement
Government vehicles
Hydrogen
Income tax
Natural gas
Natural gas vehicles
Petroleum
Petroleum industry
Petroleum refineries
Pipelines
Prospecting
Public Lands and Natural Resources
Science, Technology, Communications
Small business
Tax deductions
Technological innovations
Transportation and Public Works

Summary:
action_date: 2007-01-16
text: 
Energy Policy Reinvestment Act of 2007 - Amends the Internal Revenue Code to repeal: (1) the expensing allowance for liquid fuel refineries; (2) accelerated depreciation for natural gas distribution and gathering lines; (3) expanded eligibility of small petroleum refiners for the exception to limitations on the oil and gas depletion allowance; and (4) accelerated amortization of geological and geophysical expenditures. Directs that any revenues resulting from these repeals be made available for certain hydrogen and fuel cell technology programs.


Legislative actions:
action_date: 2007-03-20
text: Referred to the Subcommittee on Government Management, Organization, and Procurement.
action_date: 2007-02-02
text: Referred to the Subcommittee on Energy and Air Quality.
action_date: 2007-01-31
text: Referred to the Subcommittee on Energy and Environment.
action_date: 2007-01-16
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Science and Technology, Oversight and Government Reform, and Energy and Commerce, 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: 2007-01-16
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Science and Technology, Oversight and Government Reform, and Energy and Commerce, 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: 2007-01-16
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Science and Technology, Oversight and Government Reform, and Energy and Commerce, 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: 2007-01-16
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Science and Technology, Oversight and Government Reform, and Energy and Commerce, 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: 2007-01-16
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Science and Technology, Oversight and Government Reform, and Energy and Commerce, 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: 2007-01-16
text: Introduced in House
action_date: 2007-01-16
text: Introduced in House