Legis Daily

Financing Our Energy Future Act

USA117th CongressHR-2291| House 
| Updated: 3/29/2021
Mike Thompson

Mike Thompson

Democratic Representative

California

Cosponsors (1)
Ron Estes (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Financing Our Energy Future Act This bill expands the types of partnerships that qualify for treatment as publicly traded partnerships instead of as corporations for tax purposes. Under current law, partnerships that meet certain gross income requirements (i.e., at least 90% of the partnership's gross income in a taxable year consists of qualifying income) are excepted from being treated as a corporation for tax purposes. This bill expands the sources of income that are considered qualifying income and make a partnership eligible for such an exception. Specifically, the bill provides that income derived from the generation of specified alternative energy, alternative fuel projects, or the associated property, storage, or transportation for such projects (e.g., the converstion of renewable biomass into renewable fuel or the storage or transportation of such fuel) is considered qualifying income.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-3249
Financing Our Energy Future Act
Mar 25, 2021

Latest Companion Bill Action

S 117-1034
Introduced in Senate
Mar 29, 2021
Introduced in House
Mar 29, 2021
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-3249
    Financing Our Energy Future Act


  • March 25, 2021

    Latest Companion Bill Action

    S 117-1034
    Introduced in Senate


  • March 29, 2021
    Introduced in House


  • March 29, 2021
    Referred to the House Committee on Ways and Means.

Taxation

Related Bills

  • S 117-1034: Financing Our Energy Future Act
Air qualityAlternative and renewable resourcesClimate change and greenhouse gasesCorporate finance and managementElectric power generation and transmissionEnergy storage, supplies, demandLighting, heating, coolingMotor fuelsNuclear powerSolid waste and recyclingTax administration and collection, taxpayers

Financing Our Energy Future Act

USA117th CongressHR-2291| House 
| Updated: 3/29/2021
Financing Our Energy Future Act This bill expands the types of partnerships that qualify for treatment as publicly traded partnerships instead of as corporations for tax purposes. Under current law, partnerships that meet certain gross income requirements (i.e., at least 90% of the partnership's gross income in a taxable year consists of qualifying income) are excepted from being treated as a corporation for tax purposes. This bill expands the sources of income that are considered qualifying income and make a partnership eligible for such an exception. Specifically, the bill provides that income derived from the generation of specified alternative energy, alternative fuel projects, or the associated property, storage, or transportation for such projects (e.g., the converstion of renewable biomass into renewable fuel or the storage or transportation of such fuel) is considered qualifying income.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

HR 116-3249
Financing Our Energy Future Act
Mar 25, 2021

Latest Companion Bill Action

S 117-1034
Introduced in Senate
Mar 29, 2021
Introduced in House
Mar 29, 2021
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-3249
    Financing Our Energy Future Act


  • March 25, 2021

    Latest Companion Bill Action

    S 117-1034
    Introduced in Senate


  • March 29, 2021
    Introduced in House


  • March 29, 2021
    Referred to the House Committee on Ways and Means.
Mike Thompson

Mike Thompson

Democratic Representative

California

Cosponsors (1)
Ron Estes (Republican)

Ways and Means Committee

Taxation

Related Bills

  • S 117-1034: Financing Our Energy Future Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Air qualityAlternative and renewable resourcesClimate change and greenhouse gasesCorporate finance and managementElectric power generation and transmissionEnergy storage, supplies, demandLighting, heating, coolingMotor fuelsNuclear powerSolid waste and recyclingTax administration and collection, taxpayers