Tar Sands Tax Loophole Elimination Act

Bill: 113-hr-786
Sponsor: full_name: Rep. Markey, Edward J. [D-MA-5]
Introduced: 2013-02-15
Policy area: Taxation
Subjects: Oil and gas

Sales and excise taxes
Latest action: action_date: 2013-02-15
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2013-02-15
action_desc: Introduced in House
text: <p>Tar Sands Tax Loophole Elimination Act - Amends the Internal Revenue Code to include tar sands in the definition of &quot;crude oil&quot; for purposes of the excise tax on petroleum.</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 786 IN THE HOUSE OF REPRESENTATIVES February 15, 2013 Mr. Markey (for himself and Mr. Blumenauer ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to clarify that tar sands are crude oil for purposes of the Federal excise tax on petroleum.

1. Short title This Act may be cited as the Tar Sands Tax Loophole Elimination Act . 2. Clarification of tar sands as crude oil for excise tax purposes (a) In general Paragraph (1) of section 4612(a) of the Internal Revenue Code of 1986 is amended by striking and natural gasoline and inserting , natural gasoline, and tar sands . (b) Effective date The amendments made by this section shall take effect on the date of the enactment of this Act.