3.0.0 5285 2023-01-13T04:48:31Z 2023-01-13T04:48:31Z House H HR 2006-05-03 109 hssy00 Science, Space, and Technology Committee House Standing hssy20 Energy Subcommittee Referred to 2006-05-16T15:12:00Z Referred to 2006-05-03T14:00:45Z hsii00 Natural Resources Committee House Standing hsii06 Energy and Mineral Resources Subcommittee Referred to 2006-05-15T20:28:05Z Referred to 2006-05-03T14:00:40Z hswm00 Ways and Means Committee House Standing Referred to 2006-05-03T14:00:35Z Energy Fairness for America Act 109 5300 HR 2006-05-16 Referred to the Subcommittee on Energy. Related bill CRS Energy Fairness for America Act 109 2670 S 2006-04-27 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3712-3714) Related bill CRS 2006-05-16 hssy20 Energy Subcommittee 1 House committee actions Referred to the Subcommittee on Energy. Committee 2006-05-15 hsii00 Natural Resources Committee 1 House committee actions Executive Comment Requested from Interior. Committee 2006-05-15 hsii06 Energy and Mineral Resources Subcommittee 1 House committee actions Referred to the Subcommittee on Energy and Mineral Resources. Committee 2006-05-03 Referred to the Committee on Ways and Means, and in addition to the Committees on Resources, and Science, 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. IntroReferral H11100 2 House floor actions hssy00 Science, Space, and Technology Committee 2006-05-03 Referred to the Committee on Ways and Means, and in addition to the Committees on Resources, and Science, 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. IntroReferral H11100 2 House floor actions hsii00 Natural Resources Committee 2006-05-03 Referred to the Committee on Ways and Means, and in addition to the Committees on Resources, and Science, 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. IntroReferral H11100-A 9 Library of Congress 2006-05-03 Referred to the Committee on Ways and Means, and in addition to the Committees on Resources, and Science, 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. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2006-05-03 Sponsor introductory remarks on measure. (CR H1986) IntroReferral B00100 9 Library of Congress 2006-05-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2006-05-03 Introduced in House IntroReferral 1000 9 Library of Congress S000030 Rep. Sanchez, Loretta [D-CA-47] LORETTA SANCHEZ D CA 47 N Energy Accounting Alaska Commerce Congress Congressional investigations Congressional reporting requirements Continental shelf Corporation taxes Depreciation and amortization Diesel motor Economics and Public Finance Energy prices Environmental Protection Excise tax Finance and Financial Sector Foreign tax credit Gas in submerged lands Gas industry Gasoline Geology Geophysical prediction Government trust funds Groundwater Gulf of Mexico Income tax Infrastructure Inventories Marine and coastal resources, fisheries Natural gas Oil and gas leases Oil and gas royalties Oil pollution Oil well drilling Petroleum Petroleum in submerged lands Petroleum industry Petroleum storage Prospecting Rent Road construction Secondary recovery of gas Secondary recovery of oil Submarine oil well drilling Subsidies Tax credits Tax deductions Tax exemption Tax rates Tax refunds Taxation Transportation and Public Works Underground storage Valuation Water pollution control Energy 00 2006-05-03 Introduced in House 2006-06-03T15:45:04Z Gas Tax Equity Act of 2006 - Amends the Internal Revenue Code to suspend the excise tax on gasoline, diesel fuel, and kerosene for a 60-day period beginning after the enactment of this Act (suspension period). Requires reimbursement to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund for tax revenues lost during the suspension period.

Expresses the sense of Congress that the reduction of taxes under this Act should immediately benefit consumers.

Repeals provisions of the Energy Policy Act of 2005 relating to: (1) the program on oil and gas royalties in-kind; (2) incentives for natural gas production from deep wells in the Gulf of Mexico; (3) suspension of royalty payments under federal leases in the Gulf of Mexico, Alaska, and the Outer Continental Shelf; and (4) exploration incentives in the National Petroleum Reserve in Alaska.

Requires certain integrated oil companies (defined as having an average daily worldwide crude oil production level of at least 500,000 barrels and more than $1 billion in gross receipts in 2005) to revalue their LIFO inventories of crude oil, natural gas, or other petroleum products according to a specified formula. Denies such oil companies: (1) two-year amortization of geological and geophysical expenditures; and (2) foreign tax credits for payments to certain foreign countries from which such oil companies receive a specified economic benefit as a dual capacity taxpayer.

]]> Gas Tax Equity Act of 2006 Display Title Gas Tax Equity Act of 2006 Official Title as Introduced To provide a highway fuel tax holiday funded by the repeal of certain production incentives, and for other purposes. Introduced in House IH Short Titles as Introduced Gas Tax Equity Act of 2006 Popular Titles Gas Tax bill 9 Library of Congress Introduced in House 2006-05-03T04:00:00Z 2006-05-16 Referred to the Subcommittee on Energy. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.