Bill Summary & Status for the 106th Congress

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H.R.4043
Sponsor: Rep Baldacci, John Elias(introduced 3/21/2000)
Latest Major Action: 3/29/2000 Referred to House subcommittee
Title: To permit the drawdown of the Strategic Petroleum Reserve when oil and gas prices in the United States rise sharply because of anticompetitive activity, to provide credits against income tax for certain energy efficiency improvements, and for other purposes.
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TITLE(S):  ()
STATUS: (color indicates Senate actions)
3/21/2000:
Referred to the Committee on Ways and Means, and in addition to the Committee on Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
3/21/2000:
Referred to House Ways and Means
3/21/2000:
Referred to House Commerce
3/29/2000:
Referred to the Subcommittee on Energy and Power.
COMMITTEE(S):
RELATED BILL DETAILS:

***NONE***

AMENDMENT(S):

***NONE***

COSPONSORS(23), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

Rep Abercrombie, Neil - 3/21/2000 Rep Allen, Thomas H. - 3/21/2000
Rep Borski, Robert A. - 3/21/2000 Rep Brady, Robert - 3/21/2000
Rep Capuano, Michael E. - 3/21/2000 Rep Crowley, Joseph - 3/21/2000
Rep DeFazio, Peter A. - 3/21/2000 Rep Delahunt, William D. - 3/21/2000
Rep DeLauro, Rosa L. - 3/21/2000 Rep Doyle, Michael F. - 3/21/2000
Rep Fattah, Chaka - 3/21/2000 Rep Forbes, Michael P. - 3/21/2000
Rep Gejdenson, Sam - 3/21/2000 Rep Hinchey, Maurice D. - 3/21/2000
Rep Holden, Tim - 3/21/2000 Rep Kaptur, Marcy - 3/21/2000
Rep Lowey, Nita M. - 3/21/2000 Rep Mascara, Frank - 3/21/2000
Rep McGovern, James P. - 3/21/2000 Rep Moran, James P. - 3/21/2000
Rep Murtha, John P. - 3/21/2000 Rep Pascrell, Bill, Jr. - 3/21/2000
Rep Sanders, Bernard - 3/21/2000

SUMMARY AS OF:
3/21/2000--Introduced.

TABLE OF CONTENTS:

Fuel Energy Affordability and Conservation Act - Title I: Drawdown of Strategic Petroleum Reserve - Amends the Energy Policy and Conservation Act to cite additional circumstances for a presidential determination of when a severe energy supply interruption shall be deemed to exist.

Mandates that proceeds from sales of petroleum drawn down pursuant to such determinations be: (1) deposited in the SPR Petroleum Account; and (2) used only for specified purposes.

Directs the President to report to certain congressional committees on causes and potential consequences if the price of a barrel of crude oil exceeds $25 for a period greater than 14 days.

Title II: Credits for Energy Efficiency Improvements by Homeowners and Small Businesses - Amends the Internal Revenue Code to allow as a tax credit of 20 percent of the expenses (up to $2000) of qualified energy efficiency improvements by: (1) the taxpayer to an existing home; and (2) eligible small businesses to improvements placed in service during the taxable year.