Congress 114 - HR 1930 - End Polluter Welfare Act of 2015

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Accounting and auditing Agricultural prices, subsidies, credit Alternative and renewable resources Appropriations Business investment and capital Capital gains tax Climate change and greenhouse gases Coal Congressional oversight Department of Energy Electric power generation and transmission Energy Energy research Energy revenues and royalties Environmental technology Executive agency funding and structure Foreign loans and debt Government lending and loan guarantees Government trust funds Gulf of Mexico Income tax credits Income tax deductions Interest, dividends, interest rates Marine and coastal resources, fisheries Marine pollution Mining Montana Motor fuels Multilateral development programs Navigation, waterways, harbors Oil and gas Pipelines Pollution liability Public utilities and utility rates Railroads Research and development Rural conditions and development Sales and excise taxes Securities Tax administration and collection, taxpayers Taxation of foreign income Transportation programs funding Wyoming

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Summary

End Polluter Welfare Act of 2015

Amends the Outer Continental Shelf Lands Act and the Energy Policy Act of 2005 to repeal the authority of the Department of the Interior to reduce or eliminate royalty payments for oil and natural gas leases in the Outer Continental Shelf.

Amends the Mineral Leasing Act to increase minimum royalty payments for coal, oil, and natural gas leases.

Amends the Federal Oil and Gas Royalty Management Act of 1982 to prohibit payment of interest upon any overpayment of royalties.

Amends the Oil Pollution Act to eliminate the limitation on liability for offshore facilities and pipeline operators for oil spills.

Rescinds all unobligated balances made available to the World Bank, the Overseas Private Investment Corporation (OPIC), the Export-Import Bank, the Advanced Research Projects Agency in the Department of Energy (DOE), and other international financing entities to carry out any project that supports power plants that operate on fossil fuel (i.e., coal, petroleum, natural gas, or any derivatives used for fuel). Exempts from such rescission any fossil-fueled power plant project located in a Least Developed Country if no other economically feasible alternative exists, and the project uses the most efficient technology available.

Terminates the Office of Fossil Energy Research and Development in DOE and related implementation authority.

Prohibits the Department of Agriculture from making loans under the Rural Electrification Act of 1936 to carry out projects that will use fossil fuel.

Prohibits the use of Department of Transportation funds to award any grant or other direct assistance to any rail or port project that transports fossil fuel.

Amends the Internal Revenue Code to: (1) limit or repeal provisions allowing tax incentives for investment in fossil fuels, (2) increase the Oil Spill Liability Trust Fund financing rate, and (3) impose a 13% tax on the removal price of any taxable crude oil or natural gas from the Outer Continental Shelf in the Gulf of Mexico.

Repeals the corporate income tax exemption for publicly traded partnerships with qualifying income and gains from activities relating to fossil fuels.

Designates the Powder River Basin in southeast Montana and northeast Wyoming as a coal producing region.

Eliminates accelerated depreciation for property that is receiving a subsidy for fossil fuel production.

Actions

Aug 18, 2015

Referred to the Subcommittee on Environment.
May 19, 2015

Referred to the Subcommittee on Energy and Mineral Resources.
May 15, 2015

Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Apr 24, 2015

Referred to the Subcommittee on Energy and Power.
Apr 23, 2015

Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Apr 22, 2015

Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, Natural Resources, Science, Space, and Technology, Energy and Commerce, Agriculture, Appropriations, Financial Services, and Foreign Affairs, 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.
Apr 22, 2015

Introduced in House

Amendments

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