Health Care for Hybrids Act

Summary

Health Care for Hybrids Act - Requires the Secretaries of Energy, Health and Human Services, Transportation, and the Treasury to establish a task force to create a program to reimburse certain domestic automobile manufacturers for a portion (up to 10%) of the annual health care coverage costs for their retired employees. Requires such manufacturers to invest at least 50% of their health care cost savings in petroleum fuel reduction technologies, including alternative or flexible fuel vehicles and hybrids, and in the retraining of workers and retooling of manufacturing plants. Terminates such program on December 31, 2015. Amends the Internal Revenue Code to: (1) define economic substance for purposes of evaluating tax shelter transactions; (2) impose penalties for understatements of tax liability resulting from transactions lacking in economic substance; and (3) deny a tax deduction for interest assessed on underpayments of tax resulting from transactions lacking in economic substance.

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

Timeline

1. 17 November 2005

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, 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.

   Source: IntroReferral

2. 17 November 2005

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, 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.

   Source: IntroReferral

3. 17 November 2005

   Introduced

   Introduced in House

   Source: IntroReferral

4. 17 November 2005

   Introduced

   Introduced in House

   Source: IntroReferral

5. 2 December 2005

   Referred

   Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 November 2005 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 November 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 November 2005

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 17 November 2005

  Open at official source

Sponsors

• Rep. Inslee, Jay [D-WA-1] · D · Sponsor
• Brian Higgins · D · Cosponsor
• · hsif00 · Standing
• · hswm00 · Standing

Related records

• related to ← Health Care for Hybrids Act