Petroleum Producers Burden Sharing Act

Summary

Petroleum Producers Burden Sharing Act - Amends the Internal Revenue Code to reinstate the windfall profit tax on domestic crude oil. Terminates such tax: (1) after the expiration of the first four calendar quarters beginning after the date of enactment of this section; or (2) after the expiration of the first six such calendar quarters, if the President determines that a continuing energy price crisis exists. Establishes the Low Income Energy Support Trust Fund to fund the grant program under the Low-Income Home Energy Assistance Act of 1981 and the weatherization program under the Energy Conservation in Existing Buildings Act of 1976. Transfers to such Fund 33 percent of the taxes received from the windfall profit tax on domestic crude oil.

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Timeline

1. 3 January 1991

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 3 January 1991

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 January 1991

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

• Introduced in House · — · Download file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 January 1991

  Open at official source

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Sponsors

• Rep. Conte, Silvio O. [R-MA-1] · R · Sponsor
• Rep. Shays, Christopher [R-CT-4] · R · Cosponsor
• Rep. Hyde, Henry J. [R-IL-6] · R · Cosponsor
• Rep. Oberstar, James L. [D-MN-8] · D · Cosponsor
• Sen. Sanders, Bernard [I-VT] · I · Cosponsor
• Rep. Gejdenson, Sam [D-CT-2] · D · Cosponsor
• Rep. Horton, Frank J. [R-NY-29] · R · Cosponsor
• Rep. Mavroules, Nicholas [D-MA-6] · D · Cosponsor
• Rep. Frank, Barney [D-MA-4] · D · Cosponsor
• Rep. Neal, Richard E. [D-MA-1] · D · Cosponsor
• Rep. Rangel, Charles B. [D-NY-15] · D · Cosponsor
• Rep. LaFalce, John J. [D-NY-29] · D · Cosponsor
• Rep. Donnelly, Brian J. [D-MA-11] · D · Cosponsor
• Rep. Hertel, Dennis M. [D-MI-14] · D · Cosponsor
• · hswm00 · Standing

Related records

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