3.0.0 1588 2023-01-11T13:18:10Z 2023-01-11T13:18:10Z Senate S S 2009-08-06 111 ssfi00 Finance Committee Senate Standing Referred to 2009-08-06T15:02:49Z 2009-08-06 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S8998-8999) IntroReferral 2009-08-06 Sponsor introductory remarks on measure. (CR S8997-8998) IntroReferral B00100 9 Library of Congress 2009-08-06 Introduced in Senate IntroReferral 10000 9 Library of Congress W000779 Sen. Wyden, Ron [D-OR] Ron Wyden D OR N Taxation Capital gains tax Commodities markets Congressional oversight Income tax rates Oil and gas Tax-exempt organizations Taxation 00 2009-08-06 Introduced in Senate 2009-08-28T18:21:35Z Stop Tax-breaks for Oil Profiteering Act or the STOP Act - Amends the Internal Revenue Code to: (1) treat gain or loss from the sale or exchange of oil or natural gas and related commodities as ordinary income or loss (thus taxed at regular income tax rates); and (2) require certain tax-exempt entities to pay unrelated business tax on gain or loss from the sale or exchange of oil or natural gas and related commodities. Makes such tax treatment applicable to commodities acquired after August 31, 2009, and before January 1, 2014.

Directs the Secretary of the Treasury to study and report to Congress on the tax treatment of certain commodities and contracts under section 1256 of the Internal Revenue Code.

]]> STOP Act Display Title STOP Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide the same tax treatment for both commercial and noncommercial investors in oil and natural gas and related commodities, and for other purposes. Introduced in Senate IS Short Titles as Introduced STOP Act Short Titles as Introduced Stop Taxbreaks for Oil Profiteering Act Introduced in Senate 2009-08-06T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s1588is/xml/BILLS-111s1588is.xml 2009-08-06 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S8998-8999) 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.