To eliminate certain tax breaks and benefits and use the savings for investment in affordable housing for extremely low- and very low-income families, and for other purposes.
USA115th CongressHR-7375| House
| Updated: 12/20/2018
Brenda Jones
Democratic Representative
Michigan
Cosponsors (1)
Ways and Means Committee, Financial Services Committee, Budget Committee, Natural Resources Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Stronger, Healthier Environment for Low-Income Tenants and Economic Renewal Act of 2018 or the SHELTER Act of 2018 This bill limits or repeals several tax deductions, credits, and related rules that benefit major integrated oil companies. It also repeals royalty relief (suspension of royalties) for (1) natural gas production from deep wells in shallow waters of the Gulf of Mexico, and (2) deep water oil and gas production in the Western and Central Planning Area of the Gulf (including a specified portion of the Eastern Planning Area). Any increase in revenues as a result of this bill must be credited to the Housing Trust Fund, which provides funding to states for activities to increase affordable housing. The bill also specifies requirements for the fund regarding funding for (1) environmental rehabilitation activities, and (2) childhood lead prevention.
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Timeline
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committees on Natural Resources, Financial Services, and the Budget, 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.
Taxation
Administrative law and regulatory proceduresChild safety and welfareEnergy revenues and royaltiesGovernment trust fundsHazardous wastes and toxic substancesHealth information and medical recordsHousing supply and affordabilityIncome tax creditsIncome tax deductionsLow- and moderate-income housingOil and gasResidential rehabilitation and home repairTaxation of foreign income
To eliminate certain tax breaks and benefits and use the savings for investment in affordable housing for extremely low- and very low-income families, and for other purposes.
USA115th CongressHR-7375| House
| Updated: 12/20/2018
Stronger, Healthier Environment for Low-Income Tenants and Economic Renewal Act of 2018 or the SHELTER Act of 2018 This bill limits or repeals several tax deductions, credits, and related rules that benefit major integrated oil companies. It also repeals royalty relief (suspension of royalties) for (1) natural gas production from deep wells in shallow waters of the Gulf of Mexico, and (2) deep water oil and gas production in the Western and Central Planning Area of the Gulf (including a specified portion of the Eastern Planning Area). Any increase in revenues as a result of this bill must be credited to the Housing Trust Fund, which provides funding to states for activities to increase affordable housing. The bill also specifies requirements for the fund regarding funding for (1) environmental rehabilitation activities, and (2) childhood lead prevention.
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Timeline
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committees on Natural Resources, Financial Services, and the Budget, 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.
Brenda Jones
Democratic Representative
Michigan
Cosponsors (1)
Ways and Means Committee, Financial Services Committee, Budget Committee, Natural Resources Committee
Taxation
Related Bills
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresChild safety and welfareEnergy revenues and royaltiesGovernment trust fundsHazardous wastes and toxic substancesHealth information and medical recordsHousing supply and affordabilityIncome tax creditsIncome tax deductionsLow- and moderate-income housingOil and gasResidential rehabilitation and home repairTaxation of foreign income