3.0.0 1748 2021-04-19T18:39:15Z 2021-04-19T18:39:15Z House H HR 2011-05-05 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BISHOP of New York:H.R. 1748.Congress has the power to enact this legislation pursuantto the following:Article 1, Sec. 8, Clause 1Article 1, Sec. 8, Clause 3Article 4, Sec. 3, Clause 2[Page H3110]]]> hsii00 Natural Resources Committee House Standing hsii06 Energy and Mineral Resources Subcommittee Referred to 2011-05-16T19:17:07Z Referred to 2011-05-05T13:03:45Z hsif00 Energy and Commerce Committee House Standing hsif17 Innovation, Data, and Commerce Subcommittee Referred to 2011-05-06T19:06:20Z Referred to 2011-05-05T13:03:35Z hswm00 Ways and Means Committee House Standing Referred to 2011-05-05T13:03:40Z Deficit Reduction Through Fair Oil Royalties Act 112 1352 HR 2011-04-07 Referred to the Subcommittee on Energy and Mineral Resources. Related bill CRS Enhanced SPR Act 112 1807 HR 2011-05-13 Referred to the Subcommittee on Energy and Power. Related bill CRS 2011-05-16 hsii06 Energy and Mineral Resources Subcommittee 1 House committee actions Referred to the Subcommittee on Energy and Mineral Resources. Committee 2011-05-06 hsif17 Innovation, Data, and Commerce Subcommittee 1 House committee actions Referred to the Subcommittee on Commerce, Manufacturing, and Trade. Committee 2011-05-05 Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsii00 Natural Resources Committee 2011-05-05 Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2011-05-05 Referred to the Committee on Energy and Commerce, and in addition to the Committees on Ways and Means, and Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsif00 Energy and Commerce Committee 2011-05-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-05-05 Introduced in House IntroReferral 1000 9 Library of Congress B001242 Rep. Bishop, Timothy H. [D-NY-1] Timothy Bishop D NY H. 1 N M000133 Rep. Markey, Edward J. [D-MA-7] Edward Markey D MA J. 7 2011-05-05 True C001080 Rep. Chu, Judy [D-CA-32] Judy Chu D CA 32 2011-05-05 True L000557 Rep. Larson, John B. [D-CT-1] JOHN LARSON D CT B. 1 2011-05-05 True R000011 Rep. Rahall, Nick J., II [D-WV-3] NICK RAHALL D WV J. 3 2011-05-10 False K000172 Rep. Kildee, Dale E. [D-MI-5] DALE KILDEE D MI E. 5 2011-05-10 False V000128 Rep. Van Hollen, Chris [D-MD-8] Chris Van Hollen D MD 8 2011-05-10 False N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2011-05-11 False M000309 Rep. McCarthy, Carolyn [D-NY-4] CAROLYN MCCARTHY D NY 4 2011-05-11 False B001231 Rep. Berkley, Shelley [D-NV-1] SHELLEY BERKLEY D NV 1 2011-05-12 False C001078 Rep. Connolly, Gerald E. [D-VA-11] Gerald Connolly D VA E. 11 2011-05-12 False C001084 Rep. Cicilline, David N. [D-RI-1] David Cicilline D RI N. 1 2011-05-12 False M001163 Rep. Matsui, Doris O. [D-CA-5] Doris Matsui D CA O. 5 2011-05-12 False L000562 Rep. Lynch, Stephen F. [D-MA-9] Stephen Lynch D MA F. 9 2011-05-13 False H001038 Rep. Higgins, Brian [D-NY-27] Brian Higgins D NY 27 2011-05-23 False M001149 Rep. Michaud, Michael H. [D-ME-2] Michael Michaud D ME H. 2 2011-05-25 False O000085 Rep. Olver, John W. [D-MA-1] JOHN OLVER D MA W. 1 2011-06-01 False A000022 Rep. Ackerman, Gary L. [D-NY-5] GARY ACKERMAN D NY L. 5 2012-02-28 False H001063 Rep. Hahn, Janice [D-CA-36] Janice Hahn D CA 36 2012-03-19 False C001036 Rep. Capps, Lois [D-CA-23] LOIS CAPPS D CA 23 2012-03-21 False Energy Accounting and auditing Budget deficits and national debt Business ethics Business investment and capital Civil actions and liability Congressional oversight Consumer affairs Energy prices Energy revenues and royalties Energy storage, supplies, demand Gulf of Mexico Income tax deductions Marine and coastal resources, fisheries Oil and gas Retail and wholesale trades Strategic materials and reserves Energy 00 2011-05-05 Introduced in House 2011-08-11T21:07:54Z Taxpayer and Gas Price Relief Act of 2011 - Amends the Internal Revenue Code to deny major integrated oil companies: (1) a tax deduction for income attributable to producing, refining, processing, transporting, or distributing oil, gas, or primary products thereof; (2) the last-in, first-out inventory method; and (3) deductions for intangible drilling and development costs in the case of oil and gas wells.

Deficit Reduction Through Fair Oil Royalties Act - Prohibits the Secretary of the Interior from issuing new oil or natural gas production leases in the Gulf of Mexico under the Outer Continental Shelf Lands Act (OCSLA) to certain lessees unless they have renegotiated covered leases to require the payment of royalties if the price of oil and natural gas is greater than or equal to specified OCSLA price thresholds.

Requires rentals or royalties received by the United States to be deposited in the Treasury for federal budget deficit reduction or, if there is no federal budget deficit, for reducing the federal debt.

Directs the Secretary to agree to a lessee's request to amend any lease issued for any Central and Western Gulf of Mexico tract in the period of January 1, 1996, through November 28, 2000, to incorporate price thresholds applicable to royalty suspension requirements that are equal to or less than the price thresholds specified under OCSLA.

Federal Price Gouging Prevention Act - Makes it unlawful for any person, during a proclaimed international crisis affecting the oil market, to sell gasoline or any other petroleum distillate at a price that: (1) is unconscionably excessive; and (2) indicates the seller is taking unfair advantage of the circumstances of the crisis to increase prices unreasonably. Authorizes the President to issue such a proclamation.

Enhanced Supply and Price Reduction Act of 2011 or the Enhanced SPR Act - Amends the Energy Policy and Conservation Act to authorize the Secretary of Energy (DOE) to sell at least 30 million barrels of petroleum from the Strategic Petroleum Reserve (SPR) and acquire refined petroleum product. Requires the Secretary to deposit the cash proceeds from such sales into the SPR Petroleum Account.

Authorizes the President to instruct the Secretary to drawdown and sell or exchange petroleum product in a specified amount from the SPR if a circumstance exists of such significance and scope that action would be warranted to address market manipulation or otherwise be in the public interest.

]]> Taxpayer and Gas Price Relief Act of 2011 Short Titles as Introduced Taxpayer and Gas Price Relief Act of 2011 Short Titles as Introduced for portions of this bill Enhanced SPR Act Short Titles as Introduced for portions of this bill Enhanced Supply and Price Reduction Act of 2011 Short Titles as Introduced for portions of this bill Federal Price Gouging Prevention Act Short Titles as Introduced for portions of this bill Deficit Reduction Through Fair Oil Royalties Act Display Title Taxpayer and Gas Price Relief Act of 2011 Official Title as Introduced To provide consumers relief from high gas prices, and for other purposes. Introduced in House 2011-05-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1748ih/xml/BILLS-112hr1748ih.xml 2011-05-16 Referred to the Subcommittee on Energy and Mineral Resources. 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.