3.0.0 6417 2019-11-15T21:49:34Z 2019-11-15T21:49:34Z House H HR 2006-12-07 109 hswm00 Ways and Means Committee House Standing Referred to 2006-12-07T15:01:40Z 2006-12-07 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2006-12-07 Introduced in House IntroReferral Intro-H 9 Library of Congress 2006-12-07 Introduced in House IntroReferral 1000 9 Library of Congress M000627 Rep. Meehan, Martin T. [D-MA-5] MARTIN MEEHAN D MA T. 5 N Taxation Air pollution control Alternative energy sources Biomass energy Capital investments Climate change and greenhouse gases Coal Commerce Depreciation and amortization Diesel motor Energy Energy development Environmental Protection Environmental technology Finance and Financial Sector Foreign Trade and International Finance Gas industry Geology Geophysical prediction Geothermal resources Income tax Motor vehicle pollution control Natural gas Oil shales Oil well drilling Petroleum Petroleum engineering Petroleum industry Petroleum refineries Prospecting Public Lands and Natural Resources Science, Technology, Communications Secondary recovery of oil Sulphur Synthetic fuel Tax credits Tax deductions Technology transfer Transportation and Public Works Water Resources Development Taxation 00 2006-12-07 Introduced in House 2007-01-13T17:04:56Z Climate Change Investment Act of 2006 - Repeals provisions of the Internal Revenue Code allowing: (1) an election to expense the cost of certain liquid fuel processing refineries; (2) accelerated amortization of geological and geophysical expenditures; (3) a tax credit for enhanced oil recovery costs; (4) a tax credit for the production of low sulfur diesel fuel; (5) a tax credit for producing fuel from a nonconventional source; (6) a tax deduction for capital costs incurred in complying with certain sulfur regulations; (7) a tax deduction for intangible drilling and development costs for oil and gas wells and geothermal wells; and (8) tax deductions for certain oil and gas well expenditures.

Allows a business-related tax credit for investment in a greenhouse gas intensity reduction project approved by the Secretary of Energy.

]]> Climate Change Investment Act of 2006 Short Titles as Introduced Climate Change Investment Act of 2006 Display Title Climate Change Investment Act of 2006 Official Title as Introduced To repeal tax subsidies enacted by the Energy Policy Act of 2005 for oil and gas and certain other oil and gas subsidies in the Internal Revenue Code of 1986, and to establish a greenhouse gas intensity reduction investment tax credit. Introduced in House 2006-12-07T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr6417ih/xml/BILLS-109hr6417ih.xml 2006-12-07 Referred to the House Committee on Ways and Means. 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.