S 173 · 107th Congress 2001–2003, ended

Consumer Utilities Turnback (CUT) Trust Fund Act of 2001

Introduced Jan 24, 2001 Originated Senate Sponsor Barbara Boxer D-CA

Fact sheet

Latest action · Jan 24, 2001 Read twice and referred to the Committee on Finance.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedJan 24, 2001
  2. Passed SenateNot reached
  3. Passed HouseNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Consumer Utilities Turnback (CUT) Trust Fund Act of 2001 - Amends the Internal Revenue Code to impose an excise tax on the windfall profit from the sale of electricity produced from a facility located in the United States at a rate equal to 100 percent of such windfall profit.

Establishes the Consumer Utilities Turnback Trust Fund into which shall be appropriated revenues from such tax. Provides that amounts in the Fund shall be available, without further appropriation, for specified rebates for individual and business electricity consumers.

Cosponsors

Members who signed on, in the order they did.

No cosponsors are on file for this measure.

Actions 3

Everything that happened, newest first.

  1. Jan 24, 2001Introduced in Senate
  2. Jan 24, 2001Read twice and referred to the Committee on Finance.
  3. Jan 24, 2001Sponsor introductory remarks on measure. (CR S548)

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.