summary
Introduced
03/10/2021
03/10/2021
In Committee
03/10/2021
03/10/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to clarify that products derived from tar sands are crude oil for purposes of the Federal excise tax on petroleum, and for other purposes.
AI Summary
This bill aims to amend the Internal Revenue Code to clarify that products derived from tar sands are considered "crude oil" for the purposes of the federal excise tax on petroleum. It also grants the Secretary of the Treasury regulatory authority to include other types of fuel feedstocks or finished fuel products as crude oil or petroleum products subject to this tax, if they are determined to be consistent with the definition of oil under the Oil Pollution Act of 1990 and produced in sufficient commercial quantities to pose a significant risk of hazard in the event of a discharge.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Read twice and referred to the Committee on Finance. (on 03/10/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/683/all-info | 03/11/2021 |
| BillText | https://www.congress.gov/117/bills/s683/BILLS-117s683is.pdf | 04/09/2021 |
| Bill | https://www.congress.gov/117/bills/s683/BILLS-117s683is.pdf.pdf | 04/09/2021 |
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