[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 837 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 837

 To amend the Internal Revenue Code of 1986 to eliminate the inflation 
  adjustment of the phaseout of the credit for producing fuel from a 
 nonconventional source and to repeal the extension of the credit for 
            facilities producing synthetic fuels from coal.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 16, 2005

 Mr. Doggett (for himself, Mr. Shays, Mr. Andrews, Mr. Blumenauer, Mr. 
Kucinich, Mr. Lewis of Georgia, Mr. Markey, Mr. McGovern, Mr. Sanders, 
    Mr. Berman, Mr. Cooper, Ms. DeLauro, Mr. Grijalva, Ms. Lee, Mr. 
McDermott, Mr. Moran of Virginia, Mr. Schiff, Mr. Stark, Mr. Taylor of 
Mississippi, and Mr. Tierney) introduced the following bill; which was 
              referred to the Committee on Ways and Means

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to eliminate the inflation 
  adjustment of the phaseout of the credit for producing fuel from a 
 nonconventional source and to repeal the extension of the credit for 
            facilities producing synthetic fuels from coal.

    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 ``Taxpayer Protection Against Wasteful 
Energy Credits Act''.

SEC. 2. ELIMINATION OF INFLATION ADJUSTMENT FOR PHASEOUT OF SECTION 29 
              CREDIT; TERMINATION OF EXTENSION OF CREDIT FOR FACILITIES 
              PRODUCING SYNTHETIC FUELS FROM COAL.

    (a) Elimination of Inflation Adjustment for Credit Phaseout.--
            (1) In general.--Paragraph (2) of section 29(b) of the 
        Internal Revenue Code of 1986 is amended by striking ``and the 
        $23.50 and $6 amounts in paragraph (1) shall each'' and 
        inserting ``shall''.
            (2) Clerical amendment.--The heading of such paragraph is 
        amended by striking ``and phaseout adjustment''.
    (b) Termination of Extension of Credit for Facilities Producing 
Synthetic Fuels From Coal.--Paragraph (1) of section 29(g) of the 
Internal Revenue Code of 1986 (relating to extension for certain 
facilities) is amended by striking ``subparagraph (B)(ii) or (C) of 
subsection (c)(1)'' and inserting ``subsection (c)(1)(B)(ii)''.
    (c) Effective Dates.--
            (1) Subsection (a).--The amendments made by subsection (a) 
        shall apply to qualified fuels sold in taxable years beginning 
        after the date of the enactment of this Act.
            (2) Subsection (b).--The amendments made by subsection (b) 
        shall apply to qualified fuels sold after the date of the 
        enactment of this Act, in taxable years ending after such date.
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