[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3807 Introduced in House (IH)]

112th CONGRESS
  2d Session
                                H. R. 3807

To provide for funding of the Low-Income Home Energy Assistance Program 
    (LIHEAP) with a dedicated revenue source consisting of a tax on 
                        offshore oil production.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 23, 2012

  Mr. Murphy of Connecticut introduced the following bill; which was 
  referred to the Committee on Ways and Means, and in addition to the 
Committees on Energy and Commerce and Education and the Workforce, 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

_______________________________________________________________________

                                 A BILL


 
To provide for funding of the Low-Income Home Energy Assistance Program 
    (LIHEAP) with a dedicated revenue source consisting of a tax on 
                        offshore oil production.

    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 ``Guaranteed Energy Assistance Act of 
2011''.

SEC. 2. TAX ON OFFSHORE OIL PRODUCTION DEDICATED TO FUNDING OF LOW-
              INCOME HOME ENERGY ASSISTANCE PROGRAM.

    (a) Tax on Offshore Oil Production.--Part III of subchapter A of 
chapter 32 of the Internal Revenue Code of 1986 is amended by adding at 
the end the following new subpart:

                  ``Subpart C--Offshore Oil Production

``Sec. 4111. Offshore oil production.

``SEC. 4111. OFFSHORE OIL PRODUCTION.

    ``(a) In General.--There is hereby imposed a tax of the applicable 
amount per barrel of oil extracted pursuant to--
            ``(1) any lease of Federal onshore lands under the Mineral 
        Leasing Act (30 U.S.C. 181 et seq.), the Mineral Leasing Act 
        for Acquired Lands (30 U.S.C. 351 et seq.), or any other 
        Federal law, or
            ``(2) any lease under the Outer Continental Shelf Lands Act 
        (43 U.S.C. 1331 et seq.).
    ``(b) Applicable Amount.--
            ``(1) In general.--For purposes of this section, the 
        `applicable amount' means, with respect to any barrel of oil 
        extracted during a fiscal year, the lesser of--
                    ``(A) 50 cents, or
                    ``(B) such amount as the Secretary estimates would 
                result in an aggregate revenue to the Treasury under 
                this section for such fiscal year equal to the excess 
                of--
                            ``(i) $5,100,000,000, over
                            ``(ii) the amount appropriated for such 
                        fiscal year for providing assistance under the 
                        Low-Income Home Energy Assistance Act of 1981 
                        (42 U.S.C. 8621 et seq.).
            ``(2) Determination of applicable amount.--
                    ``(A) In general.--The applicable amount shall be 
                determined under paragraph (1) for a fiscal year only 
                if amounts are provided for assistance under such Act 
                in a general appropriations bill for such fiscal year 
                and such bill is enacted before the beginning of such 
                fiscal year. If such a bill is not so enacted, then the 
                applicable amount shall be--
                            ``(i) in the case of the first fiscal year 
                        beginning after the date of the enactment of 
                        this section, 50 cents, and
                            ``(ii) in the case of any subsequent fiscal 
                        year, the amount determined for the preceding 
                        fiscal year.
                    ``(B) Rounding.--Any amount determined under this 
                subsection which is not a multiple of 1 cent shall be 
                rounded to the nearest whole cent.
    ``(c) By Whom Paid.--The tax imposed under subsection (a) with 
respect to any oil shall be paid by the holder of the lease pursuant to 
which such oil is extracted.''.
    (b) Revenues From Tax on Offshore Oil Production Dedicated to 
LIHEAP Funding.--Subchapter A of chapter 98 of such Code is amended by 
adding at the end the following new section:

``SEC. 9512. LIHEAP TRUST FUND.

    ``(a) Creation of Trust Fund.--There is established in the Treasury 
of the United States a trust fund to be known as the `LIHEAP Trust 
Fund', consisting of such amounts as may be appropriated or credited to 
such fund as provided in this section or section 9602(b).
    ``(b) Transfers to Trust Fund.--There are hereby appropriated to 
the LIHEAP Trust Fund amounts equivalent to the taxes received in the 
Treasury under section 4111.
    ``(c) Expenditures.--Amounts in the LIHEAP Trust Fund shall be 
available, as provided in appropriation Acts, only for the purpose of 
providing assistance under the Low-Income Home Energy Assistance Act of 
1981 (42 U.S.C. 8621 et seq.) in an amount not to exceed $5,100,000,000 
for each fiscal year.''.
    (c) Clerical Amendments.--
            (1) The table of subparts for part III of subchapter A of 
        chapter 32 of such Code is amended by adding at the end the 
        following new item:

                ``subpart c. offshore oil production.''.

            (2) The table of sections for subchapter A of chapter 98 of 
        such Code is amended by adding at the end the following new 
        item:

``Sec. 9512. LIHEAP Trust Fund.''.
    (d) Effective Dates.--
            (1) Tax on offshore oil production.--The amendments made by 
        subsections (a) and (c)(1) shall apply to oil extracted in 
        fiscal years beginning after the date of the enactment of this 
        Act.
            (2) LIHEAP trust fund.--The amendments made by subsections 
        (b) and (c)(2) shall take effect on the date of the enactment 
        of this Act.
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