3.0.0 4041 2023-01-11T13:46:10Z 2023-01-11T13:46:10Z Senate S 2020-06-23 116 ssfi00 Finance Committee Senate Standing Referred to 2020-06-23T20:12:23Z SAVE Jobs Act 116 7579 HR 2020-07-13 Referred to the Committee on Ways and Means, and in addition to the Committee on 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. Identical bill CRS 2020-06-23 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2020-06-23 Introduced in Senate IntroReferral 10000 9 Library of Congress C001056 Sen. Cornyn, John [R-TX] John Cornyn R TX N B001261 Sen. Barrasso, John [R-WY] John Barrasso R WY 2020-06-23 True C001096 Sen. Cramer, Kevin [R-ND] Kevin Cramer R ND 2020-06-23 True M001153 Sen. Murkowski, Lisa [R-AK] Lisa Murkowski R AK 2020-06-23 True I000024 Sen. Inhofe, James M. [R-OK] Jim Inhofe R OK 2020-06-23 True H001079 Sen. Hyde-Smith, Cindy [R-MS] Cindy Hyde-Smith R MS 2020-06-23 True C001075 Sen. Cassidy, Bill [R-LA] Bill Cassidy R LA 2020-06-23 True L000575 Sen. Lankford, James [R-OK] James Lankford R OK 2020-06-23 True C001047 Sen. Capito, Shelley Moore [R-WV] Shelley Capito R WV Moore 2020-06-23 True W000437 Sen. Wicker, Roger F. [R-MS] Roger Wicker R MS F. 2020-06-23 True K000393 Sen. Kennedy, John [R-LA] John Kennedy R LA Neely 2020-06-23 True S001198 Sen. Sullivan, Dan [R-AK] Dan Sullivan R AK 2020-06-24 False Taxation Air quality Appropriations Business expenses Cardiovascular and respiratory health Climate change and greenhouse gases Coal Emergency medical services and trauma care Energy revenues and royalties Government trust funds Income tax credits Income tax deductions Indian lands and resources rights Industrial facilities Infectious and parasitic diseases Manufacturing Marine and coastal resources, fisheries Mining Oil and gas Sales and excise taxes Strategic materials and reserves Taxation 00 2020-06-23 Introduced in Senate 2020-09-09T15:13:00Z Save American Vital Energy Jobs Act or the SAVE Jobs Act

This bill extends energy-related tax provisions and expands incentives for job creation in the energy sector during the COVID-19 (i.e., coronavirus disease 2019) emergency period.

Specifically, the bill

  • extends for one year the construction period for carbon oxide sequestration facilities for purposes of the tax credit,
  • suspends capitalization rules in 2020 to permit immediate expensing of certain inventory costs,
  • reduces the required deposit of certain motor fuel excise taxes from 95% to 25%,
  • allows expensing of intangible drilling costs in 2020,
  • permits extensions and suspensions of production and operations under onshore and offshore leases during the COVID-19 emergency period,
  • requires a royalty rate reduction during the COVID-19 emergency period for a maximum 180-day period, and
  • requires the Department of the Interior to delay until July 1, 2022, the effective date for compliance with the 2016 final rule titled Consolidated Federal Oil & Gas and Federal & Indian Coal Valuation Reform.
]]> SAVE Jobs Act Display Title SAVE Jobs Act Short Title(s) as Introduced SAVE Jobs Act Introduced in Senate IS Short Title(s) as Introduced Save American Vital Energy Jobs Act Introduced in Senate IS Official Title as Introduced A bill to assist the American energy sector in retaining jobs during challenging economic times. Introduced in Senate IS Introduced in Senate 2020-06-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s4041is/xml/BILLS-116s4041is.xml 2020-06-23 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.