Financing Our Energy Future Act

Summary

Financing Our Energy Future Act This bill expands the types of partnerships that qualify for treatment as publicly traded partnerships instead of as corporations for tax purposes. Under current law, partnerships that meet certain gross income requirements (i.e., at least 90% of the partnership's gross income in a taxable year consists of qualifying income) are excepted from being treated as a corporation for tax purposes. This bill expands the sources of income that are considered qualifying income and make a partnership eligible for such an exception. Specifically, the bill provides that income derived from the generation of specified alternative energy, alternative fuel projects, or the associated property, storage, or transportation for such projects (e.g., the conversion of renewable biomass into renewable fuel or the storage or transportation of such fuel) is considered qualifying income.

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Timeline

1. 25 May 2023

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 25 May 2023

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 May 2023

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 25 May 2023 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 May 2023

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 May 2023

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 25 May 2023

  Open at official source

Sponsors

• Rep. Estes, Ron [R-KS-4] · R · Sponsor
• Rep. Thompson, Mike [D-CA-4] · D · Sponsor
• Rep. Fletcher, Lizzie [D-TX-7] · D · Cosponsor
• Darin LaHood · R · Cosponsor
• Beth Van Duyne · R · Cosponsor
• Rep. Miller, Carol D. [R-WV-1] · R · Cosponsor
• Rep. Kelly, Mike [R-PA-16] · R · Cosponsor
• Rep. Carey, Mike [R-OH-15] · R · Cosponsor
• Rep. DelBene, Suzan K. [D-WA-1] · D · Cosponsor
• Bill Pascrell · D · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Financing Our Energy Future Act