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United States · Bill · S

S. 329 (97th)

A bill to amend the Internal Revenue Code of 1954 to provide a credit against tax for certain home heating costs.

openUnited States· United States Congress· EN

Introduced

29 January 1981

Last action

23 October 1981 · Committee

Status

Subcommittee on Energy and Agricultural Taxation. Hearings held.

Sponsors

Sen. Pell, Claiborne [D-RI], Sen. Metzenbaum, Howard M. [D-OH], Sen. Kennedy, Edward M. [D-MA], Sen. Williams, Harrison A., Jr. [D-NJ], Sen. Mitchell, George J. [D-ME]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to provide a home heating tax credit equal to the sum of: (1) the amount incurred during the taxable year for any qualified home heating source multiplied by a specified factor; and (2) an amount equal to the degree day factor for the State in which the taxpayer's principal residence is located. Limits the amount of such credit to less than the excess of $300 over ten percent of the amount by which the taxpayer's adjusted gross income exceeds $30,000. Reduces such credit by any amount received by the taxpayer for a qualified home heating energy source under any Federal, State, or local program. Limits eligibility for such credit to one person per household. Allocates portions of the credit to tenants of a building which is heated by a qualified home heating energy source.

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

Timeline

  1. 29 January 1981

    Introduced

    Read second time and referred to Senate Committee on Finance.

    Source: IntroReferral

  2. 29 January 1981

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 3 February 1981

    Committee

    Committee on Finance requested executive comment from OMB; Treasury Department, Energy Department.

    Source: Committee

  4. 23 October 1981

    Committee

    Subcommittee on Energy and Agricultural Taxation took the following actions.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Leesvertaling

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Sponsors

Related records

Sources

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