To amend the Internal Revenue Code of 1986 to clarify that tar sands are crude oil for purposes of the Federal excise tax on petroleum.
Tar Sands Tax Loophole Elimination Act
This bill amends the Internal Revenue Code to expand the definition of "crude oil" for purposes of the excise tax on petroleum and petroleum products to include any bitumen or bituminous mixture, any oil derived from a bitumen or bituminous mixture (tar sands), and any oil derived from kerogen-bearing sources (oil shale).
Read twice and referred to the Committee on Finance.
Read twice and referred to the Committee on Finance.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 241.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E34-35)
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR H160)
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