[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 610 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 610

   To amend the Internal Revenue Code of 1986 to allow individuals a 
  refundable credit for a portion of the amount paid for natural gas.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 14, 2001

  Mr. Rush (for himself, Mr. Blagojevich, Mr. Costello, Mr. Davis of 
   Illinois, Mr. Evans, Mr. Gutierrez, Mr. Jackson of Illinois, Mr. 
  Lipinski, Ms. Schakowsky, and Mr. Shimkus) introduced the following 
      bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to allow individuals a 
  refundable credit for a portion of the amount paid for natural gas.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Middle Income Home Heating 
Assistance Act of 2001''.

SEC. 2. REFUNDABLE CREDIT FOR HIGH NATURAL GAS COSTS.

    (a) In General.--Subpart C of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 (relating to refundable credits) 
is amended by redesignating section 35 as section 36 and by inserting 
after section 34 the following new section:

``SEC. 35. CREDIT FOR HIGH NATURAL GAS COSTS.

    ``(a) In General.--In the case of an individual, there shall be 
allowed as a credit against the tax imposed by this subtitle for the 
taxable year an amount equal to the excess (if any) of--
            ``(1) the amount paid for natural gas to heat the principal 
        residence (within the meaning of section 121) of the taxpayer 
        for the taxable year, over
            ``(2) 150 percent of the average annual amount paid for 
        natural gas to heat such residence for the testing period.
    ``(b) Limitations.--
            ``(1) Maximum credit.--The amount allowed as a credit under 
        subsection (a) for a taxable year shall not exceed $500.
            ``(2) Phase-out.--The amount of the credit allowable under 
        subsection (a) shall be reduced by an amount which bears the 
        same ratio to the amount of the credit (determined without 
        regard to this paragraph) as--
                    ``(A) the amount by which the modified adjusted 
                gross income of the taxpayer for the taxable year 
                exceeds 150 percent of the poverty level (as defined by 
                the Office of Management and Budget), bears to
                    ``(B) the phaseout range for the taxable year.
    ``(c) Definitions and Special Rule.--For purposes of this section--
            ``(1) Testing period.--The testing period is the 3-taxable 
        year period immediately preceding the taxable year for which 
        the credit is claimed.
            ``(2) Phaseout range.--For purposes of paragraph (2)(B), 
        the phaseout range for the taxable year shall be the amount 
        equal to 300 percent of poverty level.
            ``(3) Poverty level.--For purposes of this subsection, the 
        poverty level shall take into account the number of children 
        who are dependents of the taxpayer and shall be determined in 
        accordance with criteria established by the Director of the 
        Office of Management and Budget.
            ``(4) Modified adjusted gross income.--The term `modified 
        adjusted gross income' shall have the meaning given to such 
        term by section 32(c)(5).
            ``(5) Price of gas determined on a per therm basis.--For 
        purposes of this section, the amount paid for natural gas shall 
        be determined on a per therm basis and shall not include any 
        amount paid for taxes.
    ``(d) Amount of Credit To Be Determined Under Tables.--
            ``(1) In general.--The amount of the credit allowed by this 
        section shall be determined under tables prescribed by the 
        Secretary.
            ``(2) Requirements for tables.--The tables prescribed under 
        paragraph (1) shall reflect the provisions of subsections (a) 
        and (b) and shall state the poverty levels for taxpayers who 
        are single, married, and have up to 10 dependents (not counting 
        the spouse).''.
    (b) Technical Amendments.--
            (1) Paragraph (2) of section 1324(b) of title 31, United 
        States Code, is amended by inserting ``or from section 35 of 
        such Code'' before the period at the end.
            (2) The table of sections for such subpart C of the 
        Internal Revenue Code of 1986 is amended by striking the item 
        relating to section 35 and inserting the following new items:

                              ``Sec. 35. Credit for high natural gas 
                                        costs.
                              ``Sec. 36. Overpayment of taxes.''

    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2000.

SEC. 3. REQUIREMENT THAT UTILITIES FURNISH INFORMATION FREE OF CHARGE.

    Each person supplying natural gas at the retail level for 
consumption (and not further resale) shall, upon request and without 
charge, provide to its customers on an annual basis sufficient 
information to enable the customers to determine their eligibility for, 
and amount of, the credit for high natural gas costs under section 35 
of the Internal Revenue Code of 1986, as added by section 2 of this 
Act.
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