Domestic Energy Security Improvement Act of 2000

Summary

Domestic Energy Security Improvement Act of 2000 - Title I: Oil and Gas Incentives - Subtitle A: Production from Marginal and Inactive Wells - Marginal Well Preservation Act of 2000 - Amends the Internal Revenue Code (IRC) to establish a tax credit for producing oil and gas from domestic marginal wells. Excludes from gross income any income attributable to independent producer oil from a recovered inactive well. Subtitle B: Other Incentives - Permits a taxpayer to elect to expense: (1) geological and geophysical expenditures; and (2) delay rental payments incurred in connection with oil and gas development. Extends: (1) the time period applicable to the special rule for spudding of oil or gas wells; and (2) the enhanced oil recovery credit to certain nontertiary recovery methods. Title II: Strategic Petroleum Reserve - Amends the Energy Policy and Conservation Act to authorize the Secretary of Energy to draw down and distribute the Strategic Petroleum Reserve at market price whenever the President determines that the market price of crude oil exceeds a specified market price and that a drawdown of the SPR would be in the best interest of the United States. Authorizes appropriations. Title III: Weatherization Program - Amends the Department of the Interior and Related Agencies Appropriations Act, 2000 to repeal the cost-sharing requirement presently incumbent upon States participating in the weatherization assistance grant program. Title IV: Alternative Fuels - Amends the IRC to prescribe guidelines for the allocation of the small ethanol producer credit to patrons of certain cooperative organizations. Title V: Qualified Electric Vehicles - Amends the IRC to modify guidelines governing credit for qualified electric vehicles. Title VI: Wind Production Tax Credit - Amends the IRC to extend the wind production tax credit to a qualified facility placed in service before July 1, 2004 (currently, before January 1, 2002).

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 21 September 2000

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 21 September 2000

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• Introduced in Senate

  summary · EN · 21 September 2000

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