[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5226 Introduced in House (IH)]







109th CONGRESS
  2d Session
                                H. R. 5226

   To repeal certain tax provisions of the Energy Policy Act of 2005.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 27, 2006

Ms. DeGette (for herself and Mr. Markey) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To repeal certain tax provisions of the Energy Policy Act of 2005.

    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 ``Energy Fairness Act of 2006''.

SEC. 2. REPEAL OF CERTAIN TAX PROVISIONS OF THE ENERGY POLICY ACT OF 
              2005.

    (a) Repeal.--The following provisions, and amendments made by such 
provisions, of the Energy Policy Act of 2005 are hereby repealed:
            (1) Section 1321 (relating to extension of credit for 
        producing fuel from nonconventional source for facilities 
        producing coke or coke gas).
            (2) Section 1323 (relating to temporary expensing for 
        equipment used in refining of liquid fuels).
            (3) Section 1324 (relating to pass through to owners of 
        deduction for capital costs incurred by small refiner 
        cooperatives in complying with Environmental Protection Agency 
        sulfur regulations).
            (4) Section 1325 (relating to natural gas distribution 
        lines treated as 15-year property).
            (5) Section 1326 (relating to natural gas gathering lines 
        treated as 7-year property).
            (6) Section 1327 (relating to non-application of arbitrage 
        rules to prepayments for natural gas).
            (7) Section 1328 (relating to determination of small 
        refiner exception to oil depletion deduction).
            (8) Section 1329 (relating to amortization of geological 
        and geophysical expenditures).
    (b) Administration of Internal Revenue Code of 1986.--The Internal 
Revenue Code of 1986 shall be applied and administered as if the 
provisions, and amendments, specified in subsection (a) had never been 
enacted.
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