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United States · Bill · HR

H.R. 585 (108th)

National Defense Oil Equity Act of 2003

referredUnited States· United States Congress· EN

Introduced

5 February 2003

Last action

5 February 2003 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Kucinich, Dennis J. [D-OH-10], Rep. McDermott, Jim [D-WA-7], Rep. Grijalva, Raúl M. [D-AZ-7], Rep. Carson, Julia [D-IN-7], Sen. Sanders, Bernard [I-VT], Rep. Visclosky, Peter J. [D-IN-1]

Subjects

Defence, Taxation

Source updated

18 August 2025

Defence · Taxation

Summary

National Defense Oil Equity Act of 2003 - Amends the Internal Revenue Code to impose an excise tax on the sale of any crude oil or product of crude oil a tax equal to the applicable percentage of the windfall profit on such sale. Defines windfall profit to mean so much of the profit on such sale as exceeds a reasonable profit. Establishes the Reasonable Profits Board to make reasonable profit determinations.

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

Timeline

  1. 5 February 2003

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 5 February 2003

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 5 February 2003

    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 · 5 February 2003

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 5 February 2003

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 5 February 2003

    Open at official source

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Sponsors

Related records

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Sources

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