3.0.0 3561 2019-11-15T21:59:20Z 2019-11-15T21:59:20Z Senate S S 2008-09-24 110 ssfi00 Finance Committee Senate Standing Referred to 2008-09-24T20:49:02Z HEATR Act of 2008 110 6321 HR 2008-06-19 Referred to the House Committee on Ways and Means. Related bill CRS Home Heating Oil Assistance Act of 2008 110 6784 HR 2008-08-01 Referred to the House Committee on Ways and Means. Related bill CRS Families and Small Business Energy Tax Relief Act of 2008 110 6804 HR 2008-08-01 Referred to the Subcommittee on Energy and Air Quality. Related bill CRS 2008-09-24 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2008-09-24 Introduced in Senate IntroReferral 10000 9 Library of Congress C001041 Sen. Clinton, Hillary Rodham [D-NY] HILLARY CLINTON D NY R N Taxation Commerce Corporation taxes Electric utility rates Energy Energy prices Foreign tax credit Heating Housing and Community Development Income tax Natural gas Oil well drilling Petroleum industry Tax credits Tax deductions Tax refunds Taxation 00 2008-09-24 Introduced in Senate 2008-11-18T21:19:27Z Home Energy Affordability Tax Relief Act of 2008 or the HEATR Act of 2008 - Amends the Internal Revenue Code to allow individual taxpayers an income-based refundable tax credit for residential energy costs. Limits such credit to the lesser of 33% of such costs or $500.

Eliminates for major integrated oil companies: (1) the tax deduction for intangible drilling and development costs in taxable years in which the average price of crude oil is greater than $34.71 per barrel and the average price of natural gas is greater that $4.34 per 1,000 cubic feet; and (2) the tax credit for enhanced oil recovery costs in taxable years in which the average price of crude oil is greater than $34.71 per barrel. Denies such oil companies and certain producers or refiners of crude oil a foreign tax credit for payments to certain foreign countries or U.S. possessions from which they receive a specified economic benefit as a dual capacity taxpayer.

]]> HEATR Act of 2008 Short Titles as Introduced HEATR Act of 2008 Short Titles as Introduced Home Energy Affordability Tax Relief Act of 2008 Display Title HEATR Act of 2008 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide a refundable credit against income tax to assist individuals with high residential energy costs, and for other purposes. Introduced in Senate 2008-09-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s3561is/xml/BILLS-110s3561is.xml 2008-09-24 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.