Tax Incentives for the Natural Gas Price Reduction Act of 2005
Latest action · Apr 6, 2005 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.
- IntroducedApr 6, 2005
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Tax Incentives for the Natural Gas Price Reduction Act of 2005 - Amends the Internal Revenue Code to allow a tax credit for: (1) investment in combined heat and power system property; (2) 30 percent of qualified photovoltaic property or solar heating property expenditures, up to $7,500; (3) 20 percent of qualified fuel cell property installed in residences and businesses; (4) up to 20 percent for qualified energy efficiency improvements to existing homes; (5) the installation of energy efficient property installed in new homes; (6) energy efficient appliances; and (7) investment in qualifying gasification combined cycle technology facilities.
Increases the energy tax credit for solar equipment to 30 percent in 2006 through 2010.
Extends until 2007 the tax credit for the production of electricity from renewable resources.
Permits specified organizations, including tax-exempt organizations, public utilities, States and local governments, Indian tribal governments, or the Tennessee Valley Authority (TVA) to transfer tax credit amounts for investment in gasification combined cycle technology facilities to any person without regard to the tax-exempt status of such person.
Allows a tax deduction for the cost of energy efficient commercial building property. Limits the amount of such deduction to $1.50 times the square footage of the building.
Cosponsors 2
Members who signed on, in the order they did. Signatures ran from Apr 6, 2005 to Jun 9, 2005; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-SD | Tim Johnson | Original | Apr 6, 2005 |
| R-PA | Rick Santorum | Jun 9, 2005 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Apr 6, 2005 |
Actions 3
Everything that happened, newest first.
- Apr 6, 2005Introduced in Senate
- Apr 6, 2005Sponsor introductory remarks on measure. (CR S3296-3300)
- Apr 6, 2005Read twice and referred to the Committee on Finance.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S3296–S3300 | Lamar Alexander R-TN | Apr 6, 2005 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 109-47 | TAX CREDITS FOR ELECTRICITY PRODUCTION FROM RENEWABLE SOURCES92 pages | Ways and Means Committee | May 24, 2005 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to provide tax incentives to promote the conservation and production of natural gas.
- Short Titles as Introduced
- Tax Incentives for the Natural Gas Price Reduction Act of 2005
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Administrative procedure
- Agricultural wastes
- Agriculture and Food
- Air conditioning
- Air pollution control
- Alternative energy sources
- Biomass energy
- Building construction
- Carbon cycle
- Cellulose
- Climate change and greenhouse gases
- Coal
- Cogeneration of electric power and heat
- Commerce
- Condominium (Housing)
- Congress
- Congressional investigations
- Congressional reporting requirements
- Construction costs
- Construction industries
- Cooperative housing
- Corporation taxes
- Department of the Treasury
- Depreciation and amortization
- Electric appliances
- Electric power production
- Energy
- Energy conservation
- Energy crops
- Energy efficiency
- Environmental assessment
- Environmental Protection
- Farm manure
- Fuel cells
- Geothermal resources
- Government Operations and Politics
- Grain
- Heating
- Home repair and improvement
- Housing and Community Development
- Incineration
- Income tax
- Investment tax credit
- Irrigation
- Landfills
- Law
- Legumes
- Lighting
- Lumber trade
- Methane
- Mobile homes
- Municipal solid waste
- Natural gas
- Nitrogen oxides
- Paper and paper products
- Public Lands and Natural Resources
- Refrigeration
- Refuse as fuel
- Solar energy
- Sugar
- Sulphur dioxide
- Tax credits
- Tax deductions
- Taxation
- Tennessee Valley development
- Trees
- Water Resources Development
- Wind power
- Wood
Text 1
Each version as it was printed, newest first.
- Apr 6, 2005Introduced in Senate
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.