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United States · Bill · HR

H.R. 2175 (105th)

Foreign Oil Displacement Act

referredUnited States· United States Congress· EN

Introduced

16 July 1997

Last action

16 July 1997 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Holden, Tim [D-PA-17], Rep. Baesler, Scotty [D-KY-6]

Subjects

Taxation, Aviation

Source updated

21 August 2025

Taxation · Aviation

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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. Allows any unused portion of a carbonaceous fuels facility credit to be sold or assigned. Provides for the treatment of the seller and acquirer. Excludes from the definitions of "taxable fuel," "gasoline," "diesel fuel," and "aviation fuel," and excludes from taxation under specified provisions, fuel produced by such a facility or that portion of a blend that is such a fuel.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 16 July 1997

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 16 July 1997

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 16 July 1997

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 16 July 1997

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  • Introduced in House (PDF)

    Introduced in House · EN · 16 July 1997

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  • Introduced in House

    summary · EN · 16 July 1997

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Sponsors

Related records

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Sources

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