H.R. 4108 (112th): Clean Energy Jobs Act of 2012

Introduced:
Feb 29, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Shelley Berkley [D-NV1]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on February 29, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 29, 2012
Referred to Committee Feb 29, 2012
Cosponsors
none
Committees

House Natural Resources

House Budget

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Internal Revenue Code of 1986 to increase and extend the credit for qualifying advanced energy projects, and for other purposes.

Summary

No summaries available.

Text

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Last updated Feb 29, 2012.
9 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

2/29/2012--Introduced.
Clean Energy Jobs Act of 2012 - Amends the Internal Revenue Code to allow additional allocations of credits under the qualifying advanced energy project (i.e., the project for the production of renewable and alternative energy resources) in 2012.
Limits or repeals certain tax benefits for major integrated oil companies (defined as companies with annual gross receipts over $1 billion and an average daily worldwide production of crude oil of at least 500,000 barrels), including:
(1) the foreign tax credit;
(2) the tax deduction for income attributable to oil, natural gas, or primary products thereof;
(3) the tax deduction for intangible drilling and development costs;
(4) the percentage depletion allowance for oil and gas wells; and
(5) the tax deduction for qualified tertiary injectant expenses.
Amends the Energy Policy Act of 2005 to repeal 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 the portion of the Eastern Planning Area encompassing whole lease blocks lying west of 87 degrees, 30 minutes west longitude).
Dedicates any increased revenue generated by this Act to the reduction of a federal budget deficit or the federal debt.
Provides for compliance of the budgetary effects of this Act with the Statutory Pay-As-You-Go Act of 2010.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)