3.0.0 752 2023-01-11T13:36:11Z 2023-01-11T13:36:11Z Senate S 2017-03-28 115 ssfi00 Finance Committee Senate Standing Referred to 2017-03-28T21:45:30Z Tar Sands Tax Loophole Elimination Act 115 1755 HR 2017-03-28 Referred to the House Committee on Ways and Means. Identical bill CRS 2017-03-28 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-03-28 Introduced in Senate IntroReferral 10000 9 Library of Congress M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. N S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2017-03-28 True W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2017-03-28 True Taxation Administrative law and regulatory procedures Department of the Treasury Motor fuels Oil and gas Pipelines Sales and excise taxes Taxation 00 2017-03-28 Introduced in Senate 2017-04-04T14:47:00Z Tar Sands Tax Loophole Elimination Act

This bill amends the Internal Revenue Code to expand the definition of "crude oil" for purposes of the excise tax on petroleum and petroleum products to include any bitumen or bituminous mixture, any oil derived from a bitumen or bituminous mixture (tar sands), and any oil derived from kerogen-bearing sources (oil shale).

The bill also authorizes the Department of the Treasury to classify as crude oil or as a petroleum product subject to such tax any fuel feedstock or finished fuel product transported by pipeline, vessel, railcar, or tanker truck if such classification is consistent with the definition of oil under the Oil Pollution Act of 1990 and such fuel feedstock or finished fuel product is produced in sufficient commercial quantities as to pose a significant risk of hazard in the event of a discharge.

]]> Tar Sands Tax Loophole Elimination Act Display Title Tar Sands Tax Loophole Elimination Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to clarify that products derived from tar sands are crude oil for purposes of the Federal excise tax on petroleum, and for other purposes. Introduced in Senate IS Short Titles as Introduced Tar Sands Tax Loophole Elimination Act Introduced in Senate 2017-03-28T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s752is/xml/BILLS-115s752is.xml 2017-03-28 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.