3.0.0 2045 2023-01-13T04:49:33Z 2023-01-13T04:49:33Z Senate S S 2005-11-17 109 ssfi00 Finance Committee Senate Standing Referred to 2005-11-17T23:24:13Z Health Care for Hybrids Act 109 4370 HR 2005-12-02 Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman. Related bill CRS 2005-11-17 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2005-11-17 Introduced in Senate IntroReferral 10000 9 Library of Congress O000167 Sen. Obama, Barack [D-IL] Barack Obama D IL N C001041 Sen. Clinton, Hillary Rodham [D-NY] HILLARY CLINTON D NY R 2006-04-03 False Energy Accounting Alternative energy sources Automobile industry Commerce Commercialization Congress Congressional reporting requirements Consumer discounts Corporation taxes Department of Energy Department of Health and Human Services Department of Transportation Department of the Treasury Diesel motor Electric vehicles Employee health benefits Energy efficiency Executive reorganization Finance and Financial Sector Fuel cells Fuel consumption Government Operations and Politics Health Income tax Interest Labor and Employment Loans Natural gas vehicles Profit Research and development Retiree health benefits Science, Technology, Communications Subsidies Tax deductions Tax evasion Tax penalties Taxation Transportation and Public Works Valuation Energy 00 2005-11-17 Introduced in Senate 2005-12-22T20:57:20Z Health Care for Hybrids Act - Requires the Secretaries of Energy, Health and Human Services, Transportation, and the Treasury to establish a task force to create a program to provide financial assistance to certain domestic automobile manufacturers for the annual health care coverage costs of their retired employees. Limits the amount of such assistance to 10% of the manufacturer's annual retiree health care costs. Requires such manufacturers to invest at least 50% of their health care cost savings in petroleum fuel reduction technologies, including alternative or flexible fuel vehicles and hybrids, and in the retraining of workers and retooling of manufacturing plants. Terminates such program on December 31, 2015.

Amends the Internal Revenue Code to: (1) define economic substance for purposes of evaluating tax shelter transactions; (2) impose penalties for understatements of tax liability resulting from transactions lacking in economic substance; and (3) deny a tax deduction for interest assessed on underpayments of tax resulting from transactions lacking in economic substance.

]]> Health Care for Hybrids Act Display Title Health Care for Hybrids Act Official Title as Introduced A bill to provide incentives to the auto industry to accelerate efforts to develop more energy-efficient vehicles to lessen dependence on oil. Introduced in Senate IS Short Titles as Introduced Health Care for Hybrids Act Introduced in Senate 2005-11-17T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s2045is/xml/BILLS-109s2045is.xml 2005-11-17 Read twice and referred to the Committee on Finance. 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.