Foreign Oil Displacement Act

Summary

Foreign Oil Displacement Act - Amends the Internal Revenue Code to allow an investment credit for carbonaceous fuels conversion facilities, defined as facilities for producing: (1) oil from shale and tar sands; (2) gas from geopressured brine, Devonian shale, coal seams, or a tight formation, or from biomass; and (3) liquid, gaseous, or solid synthetic fuels from coal (including lignite, standard anthracite, peat, and any byproduct from a coal, culm, or silt preparation facility containing fixed carbon and including such fuels when used as feedstocks). Provides for recapture.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 6 January 1999

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• Introduced in House (PDF)

  Introduced in House · EN · 6 January 1999

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• Introduced in House

  summary · EN · 6 January 1999

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