3.0.0 4231 2019-11-15T21:46:47Z 2019-11-15T21:46:47Z House H HR 2012-03-21 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. YARMUTH:H.R. 4231.Congress has the power to enact this legislation pursuantto the following:Section 8 of Article 1 of the Constitution.[Page H1497]]]> hswm00 Ways and Means Committee House Standing Referred to 2012-03-21T14:02:00Z Pain at the Pump Act 112 1959 HR 2011-09-08 Referred to the Subcommittee on Higher Education and Workforce Training. Related bill CRS 2012-03-21 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2012-03-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2012-03-21 Introduced in House IntroReferral 1000 9 Library of Congress Y000062 Rep. Yarmuth, John A. [D-KY-3] John Yarmuth D KY A. 3 N C001078 Rep. Connolly, Gerald E. [D-VA-11] Gerald Connolly D VA E. 11 2012-03-21 True C000714 Rep. Conyers, John, Jr. [D-MI-14] JOHN CONYERS D MI 14 2012-03-21 True S000810 Rep. Stark, Fortney Pete [D-CA-13] PETE STARK D CA 13 2012-03-21 True J000283 Rep. Jackson, Jesse L., Jr. [D-IL-2] JESSE JACKSON D IL L. 2 2012-03-21 True R000053 Rep. Rangel, Charles B. [D-NY-15] CHARLES RANGEL D NY B. 15 2012-03-21 True H001063 Rep. Hahn, Janice [D-CA-36] Janice Hahn D CA 36 2012-03-21 True R000577 Rep. Ryan, Tim [D-OH-17] TIM RYAN D OH 17 2012-03-21 True S001150 Rep. Schiff, Adam B. [D-CA-29] ADAM SCHIFF D CA B. 29 2012-03-21 True F000116 Rep. Filner, Bob [D-CA-51] BOB FILNER D CA 51 2012-03-21 True V000128 Rep. Van Hollen, Chris [D-MD-8] Chris Van Hollen D MD 8 2012-03-21 True C001072 Rep. Carson, Andre [D-IN-7] Andre Carson D IN 7 2012-03-21 True M001166 Rep. McNerney, Jerry [D-CA-11] Jerry McNerney D CA 11 2012-03-21 True C001080 Rep. Chu, Judy [D-CA-32] Judy Chu D CA 32 2012-03-21 True W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2012-03-22 False M000485 Rep. McIntyre, Mike [D-NC-7] MIKE MCINTYRE D NC 7 2012-03-29 False S000480 Rep. Slaughter, Louise McIntosh [D-NY-28] LOUISE SLAUGHTER D NY M. 28 2012-05-30 False S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2012-05-30 False Taxation Business investment and capital Income tax credits Income tax deductions Motor vehicles Oil and gas Taxation 00 2012-03-21 Introduced in House 2012-05-09T21:40:39Z Gas Rebate Act of 2012 - Amends the Internal Revenue Code to repeal certain tax incentives for oil and gas companies, including: (1) the tax credit for enhanced oil recovery, (2) the tax credit for producing oil and gas from marginal wells, (3) the expensing allowance for intangible drilling and development costs, (4) the tax deduction for tertiary injectant expenses, (5) the exception to passive loss limitations for working interests in oil and gas properties, and (6) percentage depletion for oil and gas wells.

Denies a tax deduction for income attributable to the domestic production, refining, processing, transportation, or distribution of oil, gas, or any primary product thereof. Extends to seven years the required amortization period for geological and geophysical expenditures.

Allows registered motor vehicle owners a rebate against income tax based on their share of revenues saved from the repeal of the tax incentives for oil and gas companies by this Act.

]]> Gas Rebate Act of 2012 Short Titles as Introduced Gas Rebate Act of 2012 Display Title Gas Rebate Act of 2012 Official Title as Introduced To amend the Internal Revenue Code of 1986 to repeal certain tax breaks for gas and oil companies and to refund the revenue savings to registered vehicle owners. Introduced in House 2012-03-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr4231ih/xml/BILLS-112hr4231ih.xml 2012-03-21 Referred to the House Committee on Ways and Means. 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.