3.0.0 2748 2023-01-13T04:48:20Z 2023-01-13T04:48:20Z Senate S S 2006-05-04 109 ssfi00 Finance Committee Senate Standing Referred to 2006-05-04T21:28:04Z 2006-05-04 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4068-4072) IntroReferral 2006-05-04 Sponsor introductory remarks on measure. (CR S4059-4060) IntroReferral B00100 9 Library of Congress 2006-05-04 Introduced in Senate IntroReferral 10000 9 Library of Congress B000468 Sen. Bingaman, Jeff [D-NM] JESSE BINGAMAN D NM FRANCIS N B001233 Sen. Bayh, Evan [D-IN] EVAN BAYH D IN 2006-05-04 True C001057 Sen. Coleman, Norm [R-MN] Norm Coleman R MN 2006-05-04 True L000304 Sen. Lieberman, Joseph I. [D-CT] JOSEPH LIEBERMAN D CT I. 2006-05-04 True L000504 Sen. Lugar, Richard G. [R-IN] RICHARD LUGAR R IN GREEN 2006-05-04 True C000127 Sen. Cantwell, Maria [D-WA] Maria Cantwell D WA 2006-05-04 True C001035 Sen. Collins, Susan M. [R-ME] Susan Collins R ME M. 2006-05-04 True S001163 Sen. Salazar, Ken [D-CO] Ken Salazar D CO 2006-05-04 True K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2006-05-04 True C001041 Sen. Clinton, Hillary Rodham [D-NY] HILLARY CLINTON D NY R 2006-05-04 True N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2006-05-04 True M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2006-05-08 False C000174 Sen. Carper, Thomas R. [D-DE] Thomas Carper D DE R. 2006-05-10 False Taxation Accounting Administrative procedure Agriculture and Food Air conditioning Alcohol as fuel Alternative energy sources Automobile engines Automobile industry Biomass energy Coal Cogeneration of electric power and heat Commerce Department of Energy Depreciation and amortization Diesel motor Electric power production Electric vehicles Employee training Energy Energy conservation Energy consumption Energy efficiency Energy facilities Environmental Protection Excise tax Finance and Financial Sector Foreign Trade and International Finance Foreign tax credit Fuel cells Fuel consumption Geology Geophysical prediction Geothermal resources Government Operations and Politics Heating Housing and Community Development Hydroelectric power Incineration Income tax Industrial buildings Industrial engineering Inventories Investment tax credit Irrigation Labor and Employment Landfills Law Methane Minimum tax Motor vehicle pollution control Municipal solid waste Natural gas Petroleum Petroleum industry Public Lands and Natural Resources Refuse as fuel Research and development Science, Technology, Communications Service stations Solar energy Standards Tariff Tax credits Tax deductions Tax-exempt securities Transportation and Public Works Transportation research Trucks Water Resources Development Water conservation Wind power Taxation 00 2006-05-04 Introduced in Senate 2006-05-26T19:48:19Z Enhanced Energy Security Tax Incentives Act of 2006 - Amends the Internal Revenue Code to extend through 2010 the tax credits for: (1) producing electricity from certain renewable resources; (2) investment in clean renewable energy bonds; (3) new energy efficient homes; (4) nonbusiness energy property; (5) residential energy efficient property; (6) investment in qualified fuel cell and microturbine property and solar energy property; (7) alternative fuels; and (8) qualified electric vehicles.

Extends through 2010 the tax deduction for energy efficient commercial building property. Allows accelerated three-year depreciation of qualified energy management and water submetering devices. Limits depreciation allowances for certain large passenger motor vehicles.

Removes the limitation on the number of new qualified hybrid and advanced lean burn technology vehicles eligible for the alternative motor vehicle tax credit.

Allows tax credits for investment in advanced technology motor vehicles, fuel-efficient fleets of motor vehicles used in a trade or business, idling reduction devices, and combined heat and power system property. Terminates such credits after 2010.

Increases from 30 to 50% the tax credit rate for investment in alternative vehicle refueling property (service stations for dispensing alternative motor vehicle fuels to retail consumers) and extends such credit through 2010.

Requires certain integrated oil companies with gross receipts over $1 million and crude oil production levels over 500,000 barrels to revalue their LIFO inventories of crude oil, natural gas, and other petroleum products according to a specified formula. Denies such oil companies: (1) two-year amortization of their geological and geophysical expenditures; and (2) foreign tax credits for payments to foreign countries from which they receive a specified economic benefit.

]]> Enhanced Energy Security Tax Incentives Act of 2006 Display Title Enhanced Energy Security Tax Incentives Act of 2006 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide tax incentives to promote energy production and conservation, and for other purposes. Introduced in Senate IS Short Titles as Introduced Enhanced Energy Security Tax Incentives Act of 2006 Introduced in Senate 2006-05-04T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s2748is/xml/BILLS-109s2748is.xml 2006-05-04 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4068-4072) 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.