All Information (Except Text) for S.162 - National Fuels Initiative110th Congress (2007-2008)
|Sponsor:||Sen. Lugar, Richard G. [R-IN] (Introduced 01/04/2007)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 01/04/2007 Read twice and referred to the Committee on Finance. (All Actions)|
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Short Titles - Senate
Short Titles as Introduced
National Fuels Initiative
Official Titles - Senate
Official Titles as Introduced
A bill to amend the Internal Revenue Code of 1986 to modify the alcohol credit and the alternative fuel credit, to amend the Clean Air Act to promote the installation of fuel pumps for E-85 fuel, to amend title 49 of the United States Code to require the manufacture of dual fueled automobiles, and for other purposes.
Actions Overview (1)
|01/04/2007||Introduced in Senate|
01/04/2007 Introduced in Senate
All Actions (1)
|01/04/2007||Read twice and referred to the Committee on Finance.|
Action By: Senate
01/04/2007 Read twice and referred to the Committee on Finance.
|Committee / Subcommittee||Date||Activity||Reports|
|Senate Finance||01/04/2007||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
- Administrative procedure
- Alcohol as fuel
- Alternative energy sources
- Automobile industry
- Congressional reporting requirements
- Consumer education
- Cost effectiveness
- Department of Energy
- Depreciation and amortization
- Economic growth
- Electric vehicles
- Energy conservation
- Energy demand
- Energy efficiency
- Energy security
- Energy supplies
- Excise tax
- Federal installations
- Fuel consumption
- General Services Administration
- Government publicity
- Government vehicles
- Governmental investigations
- Income tax
- Motor vehicle pollution control
- Natural gas vehicles
- Petroleum industry
- Petroleum refineries
- Recycling of waste products
- Refuse as fuel
- Research and development
- Service stations
- Tax credits
- Tax deductions
- Technological innovations
- Transportation research
- Web sites
Latest Summary (1)
Introduced in Senate (01/04/2007)
National Fuels Initiative - Amends the Internal Revenue Code to modify the alcohol fuels tax credit and the alternative fuel tax credit by calculating such rates based on a formula related to the average price of a barrel of oil. Sets tax credit rates for alcohol fuels, qualified alcohol fuel mixtures, and alternative fuels sold or used before January 1, 2011.
Extends such credits. Sets forth sunset provisions terminating the small ethanol producer tax credit.
Amends the Clean Air Act to require the Secretary of Energy to promulgate regulations to ensure that each major oil company that sells gasoline in the United States through wholly-owned or branded stations provides pumps that dispense E-85 fuel at not less than a specified graduated percentage of all of its stations.
Amends federal transportation law to require manufacturers of new automobiles that can operate on gasoline or diesel fuel to manufacture such automobiles by increasing percentages after model year 2007.
Revises the definition of automobile to require including all automobiles up to 10,000 pounds (currently, not all automobiles up to 10,000 pounds are required to be included in the definition). Continues applying the current minimum corporate average fuel economy (CAFE) standards for non-passenger and passenger automobiles to automobiles manufactured through model year 2011, but, for passenger automobiles, adds an increase of four percent per year in such standard for model years 2009 through 2011.
Requires an average fuel economy standard of 27.5 miles per gallon for all automobiles manufactured by all manufacturers for model year 2012, with an increase of four percent in the average fuel economy from the level for the prior model year for model year 2013 and beyond.
Requires the average fuel economy standard in a model year for a manufacturer's domestic and foreign fleetwide passenger automobiles under calculation of average fuel economy provisions to be at least 92% of the average fuel economy projected by the Secretary for the combined domestic and foreign fleets manufactured by all manufacturers in that model year.
Permits lower fuel economy standards if they are: (1) technologically unachievable; (2) materially reduce auto safety; or (3) not cost effective.
Amends the Internal Revenue Code to: (1) terminate the limitation on the number of new qualified hybrid and advanced lean burn technology vehicles eligible for the alternative motor vehicle credit; and (2) allow an advanced technology motor vehicles manufacturing credit.
Sets forth certain requirements regarding the collecting, re-refining, reusing, and labeling of used oil.
Extends the period a taxpayer may elect to deduct 50% of the expense costs of a qualified refinery property that processes non-virgin lube oil from used, refined oil.
Allows a tax credit for re-refined lubricating oil feedstock.