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Financing Our Energy Future Act

USA118th CongressHR-3690| House 
| Updated: 5/25/2023
Ron Estes

Ron Estes

Republican Representative

Kansas

Cosponsors (9)
Darin LaHood (Republican)Mike Carey (Republican)Beth Van Duyne (Republican)Suzan K. DelBene (Democratic)Carol D. Miller (Republican)Mike Kelly (Republican)Mike Thompson (Democratic)Lizzie Fletcher (Democratic)Bill Pascrell (Democratic)

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 conversion of renewable biomass into renewable fuel or the storage or transportation of such fuel) is considered qualifying income.
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Timeline

Bill from Previous Congress

HR 116-3249
Financing Our Energy Future Act

Bill from Previous Congress

HR 117-2291
Financing Our Energy Future Act
May 25, 2023
Introduced in House
May 25, 2023
Referred to the House Committee on Ways and Means.
Jul 27, 2023

Latest Companion Bill Action

S 118-2641
Introduced in Senate
  • Bill from Previous Congress

    HR 116-3249
    Financing Our Energy Future Act


  • Bill from Previous Congress

    HR 117-2291
    Financing Our Energy Future Act


  • May 25, 2023
    Introduced in House


  • May 25, 2023
    Referred to the House Committee on Ways and Means.


  • July 27, 2023

    Latest Companion Bill Action

    S 118-2641
    Introduced in Senate

Taxation

Related Bills

  • S 118-2641: Financing Our Energy Future Act

Financing Our Energy Future Act

USA118th CongressHR-3690| House 
| Updated: 5/25/2023
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 conversion 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

Bill from Previous Congress

HR 117-2291
Financing Our Energy Future Act
May 25, 2023
Introduced in House
May 25, 2023
Referred to the House Committee on Ways and Means.
Jul 27, 2023

Latest Companion Bill Action

S 118-2641
Introduced in Senate
  • Bill from Previous Congress

    HR 116-3249
    Financing Our Energy Future Act


  • Bill from Previous Congress

    HR 117-2291
    Financing Our Energy Future Act


  • May 25, 2023
    Introduced in House


  • May 25, 2023
    Referred to the House Committee on Ways and Means.


  • July 27, 2023

    Latest Companion Bill Action

    S 118-2641
    Introduced in Senate
Ron Estes

Ron Estes

Republican Representative

Kansas

Cosponsors (9)
Darin LaHood (Republican)Mike Carey (Republican)Beth Van Duyne (Republican)Suzan K. DelBene (Democratic)Carol D. Miller (Republican)Mike Kelly (Republican)Mike Thompson (Democratic)Lizzie Fletcher (Democratic)Bill Pascrell (Democratic)

Ways and Means Committee

Taxation

Related Bills

  • S 118-2641: Financing Our Energy Future Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted