FAIR Energy Policy Act

Summary

Fossil Aid is Inefficient and Regressive Energy Policy Act or the FAIR Energy Policy Act This bill amends the Internal Revenue Code to phase out certain tax provisions that apply to fossil fuels. The bill establishes a schedule for decreasing the benefits of the provisions for major integrated oil companies by specified percentages that reach 100% after December 31, 2019. The affected provisions include: the deduction for intangible drilling costs, the deduction for the percentage of depletion of oil and natural gas wells, the deduction for oil related qualified production activities income, the deduction for the amortization of geological and geophysical expenditures, the deduction for the percentage of depletion of oil shale, the deduction for exploration and development costs for oil shale, the capital gains treatment for royalties of coal, the deduction for tertiary injectants, the exception to the passive loss limitation for working interests in oil and natural gas properties, and the marginal wells tax credit.

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Timeline

1. 26 May 2016

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 26 May 2016

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 26 May 2016 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 May 2016

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 May 2016

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 26 May 2016

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Schatz, Brian [D-HI] · D · Sponsor
• Sen. Whitehouse, Sheldon [D-RI] · D · Sponsor
• Sen. Feinstein, Dianne [D-CA] · D · Sponsor
• Sen. Merkley, Jeff [D-OR] · D · Sponsor
• Sen. Warren, Elizabeth [D-MA] · D · Sponsor
• Sen. Markey, Edward J. [D-MA] · D · Sponsor
• Sen. Peters, Gary C. [D-MI] · D · Cosponsor
• · ssfi00 · Standing

Related records

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