S. 3275 (112th): Master Limited Partnerships Parity Act

Introduced:
Jun 07, 2012 (112th Congress, 2011–2013)
Sponsor:
Sen. Chris Coons [D-DE]
Status:
Died (Referred to Committee)
See Instead:
This bill was re-introduced as S. 795 on Apr 24, 2013. See S. 795 for current action on this subject.

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on June 7, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jun 07, 2012
Referred to Committee Jun 07, 2012
Cosponsors
15 cosponsors (12D, 3R) (show)
Committees

Senate Finance

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

Full Title

A bill to amend the Internal Revenue Code of 1986 to extend the publicly traded partnership ownership structure to energy power generation projects and transportation fuels, and for other purposes.

Summary

No summaries available.

Text

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Last updated Jun 07, 2012.
2 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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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.

6/7/2012--Introduced.
Master Limited Partnerships Parity Act - Amends the Internal Revenue Code, with respect to the tax treatment of publicly traded partnerships as corporations, to expand the definition of "qualifying income" for such partnerships to include income and gains from renewable and alternative fuels (in addition to fossil fuels), including renewable energy facilities used in the production of electricity, biodiesel, alcohol used as fuels, and renewable fuels used to reduce or replace fossil fuels present in transportation fuels.

House Republican Conference Summary

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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.)

  • Title 42: THE PUBLIC HEALTH AND WELFARE
  • Chapter 85: AIR POLLUTION PREVENTION AND CONTROL
  • Subchapter II: EMISSION STANDARDS FOR MOVING SOURCES
  • Part A: Motor Vehicle Emission and Fuel Standards
  • Section 7545: Regulation of fuels