Bill > HR2224

This bill, known as the "Tar Sands Tax Loophole Elimination Act," proposes to amend the Internal Revenue Code to expand the definition of "crude oil" for federal excise tax purposes. Specifically, the bill broadens the definition to explicitly include crude oil condensates, natural gasoline, bitumen (a thick, heavy form of petroleum), bituminous mixtures, oils derived from bitumen or tar sands, and oils derived from kerogen-bearing sources like oil shale. Additionally, the bill grants the Secretary of the Treasury regulatory authority to include other fuel feedstocks or finished fuel products in the crude oil definition if they are typically transported by pipeline, vessel, railcar, or tanker truck, meet the Oil Pollution Act of 1990's definition of oil, and are produced in commercial quantities that could pose a significant environmental hazard if discharged. The bill also makes a technical amendment by removing language specifying that oil must be from a well located in a particular place. These changes would ensure that products from tar sands and similar sources are subject to the same federal petroleum excise taxes as traditional crude oil, effectively closing what the bill's sponsors view as a tax loophole.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2224/all-info