Legis Daily

Financing Our Energy Future Act

USA118th CongressS-2641| Senate 
| Updated: 7/27/2023
Christopher A. Coons

Christopher A. Coons

Democratic Senator

Delaware

Cosponsors (10)
Mike Braun (Republican)Roger Marshall (Republican)Jerry Moran (Republican)Thomas R. Carper (Democratic)Mark R. Warner (Democratic)Angus S. King (Independent)Debbie Stabenow (Democratic)John Barrasso (Republican)Susan M. Collins (Republican)Mike Crapo (Republican)

Finance 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.
View Full Text

Suggested Questions

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

Timeline

Bill from Previous Congress

S 116-1841
Financing Our Energy Future Act

Bill from Previous Congress

S 117-1034
Financing Our Energy Future Act
May 25, 2023

Latest Companion Bill Action

HR 118-3690
Introduced in House
Jul 27, 2023
Introduced in Senate
Jul 27, 2023
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 116-1841
    Financing Our Energy Future Act


  • Bill from Previous Congress

    S 117-1034
    Financing Our Energy Future Act


  • May 25, 2023

    Latest Companion Bill Action

    HR 118-3690
    Introduced in House


  • July 27, 2023
    Introduced in Senate


  • July 27, 2023
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 118-3690: Financing Our Energy Future Act

Financing Our Energy Future Act

USA118th CongressS-2641| Senate 
| Updated: 7/27/2023
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

S 116-1841
Financing Our Energy Future Act

Bill from Previous Congress

S 117-1034
Financing Our Energy Future Act
May 25, 2023

Latest Companion Bill Action

HR 118-3690
Introduced in House
Jul 27, 2023
Introduced in Senate
Jul 27, 2023
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 116-1841
    Financing Our Energy Future Act


  • Bill from Previous Congress

    S 117-1034
    Financing Our Energy Future Act


  • May 25, 2023

    Latest Companion Bill Action

    HR 118-3690
    Introduced in House


  • July 27, 2023
    Introduced in Senate


  • July 27, 2023
    Read twice and referred to the Committee on Finance.
Christopher A. Coons

Christopher A. Coons

Democratic Senator

Delaware

Cosponsors (10)
Mike Braun (Republican)Roger Marshall (Republican)Jerry Moran (Republican)Thomas R. Carper (Democratic)Mark R. Warner (Democratic)Angus S. King (Independent)Debbie Stabenow (Democratic)John Barrasso (Republican)Susan M. Collins (Republican)Mike Crapo (Republican)

Finance Committee

Taxation

Related Bills

  • HR 118-3690: Financing Our Energy Future Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted