Commercial Truck Fuel Savings Demonstration Act of 2008

A bill to stimulate the economy by encouraging energy efficiency, infrastructure and workforce investment, and homeownership retention, and by amending the Internal Revenue Code of 1986 to provide certain business tax relief and incentives, and for other purposes.

6/12/2008--Introduced.
Economic Recovery Act of 2008 - Amends the Internal Revenue Code to:
(1) allow a tax credit for up to $500 of the cost of replacing wood stoves in residences with stoves that meet certain energy efficiency standards;
(2) extend through 2011 the tax credit for producing electricity from certain renewable resources;
(3) extend through 2012 the tax credit for residential energy efficient property expenditures;
(4) increase and make permanent the expensing allowance for depreciable business property;
(5) extend through 2009 the accelerated depreciation of qualified restaurant property; and
(6) allow a tax credit for investment in Build America bonds.
Amends the Energy Conservation and Production Act to increase funding for the weatherization program in FY2009-FY2011. Authorizes appropriations for the Energy Star program.
Authorizes the establishment of the Transportation Finance Corporation to issue Build America bonds and finance transportation infrastructure projects. Commercial Truck Fuel Savings Demonstration Act of 2008 - Establishes a two-year program to allow certain heavy trucks to travel on the federal interstate highway system when diesel fuel prices are $3.50 or more per gallon without a reduction of federal highway funds to states.
Amends the Workforce Investment Act of 1998 to authorize appropriations for FY2009-FY2010 for:
(1) youth activities;
(2) adult employment and training activities; and
(3) dislocated worker employment and training activities. Amends the National Housing Act to require the Secretary of Housing and Urban Development (HUD) to insure any homeownership retention mortgage covering a one- to four-family residence made to pay or prepay outstanding obligations under an existing mortgage.


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Sponsor

• Sen. Susan Collins [R, ME]

Committees

• Senate Finance

Amendments

This bill has no amendments.

Amendments to S.3119

Number	Status	Purpose

Bill Status

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Introduced		Voted on by Senate		Voted on by House		Considered By President		Bill Becomes Law
June 12, 2008

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All Bill Actions

• Jun 12, 2008: Read twice and referred to the Committee on Finance.
• Jun 12, 2008: Sponsor introductory remarks on measure. (CR S5594-5595)
• Introduced on Jun 12, 2008.

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Related Issue Areas:

• Youth employment
• Wind power
• Water resources
• Trucks
• 46 more
• Transportation
• Taxation
• Tax deductions
• Tax credits
• Standards
• Solid wastes
• Solar energy
• Single family housing
• Restaurants
• Refuse as fuel
• Municipal solid waste
• Mortgages
• Labor
• Job training
• Irrigation
• Interstate highway system
• Infrastructure (Economics)
• Infrastructure
• Income tax
• Incineration
• Housing
• Home ownership
• Heating
• Governmental investigations
• Geothermal resources
• Foreclosure
• Food
• Finance
• Environmental protection
• Energy prices
• Energy efficiency
• Energy conservation
• Energy
• Electric power production
• Dislocated workers
• Diesel motor
• Depreciation and amortization
• Corporations
• Children
• Budgets
• Bonds
• Biomass energy
• Banks and banking
• Authorization
• Alternative energy sources
• Economic policy

Data from the Congressional Research Service

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June 11, 2008 S. 3119, A bill to stimulate the economy by encouraging energy ...

S. 3119 would stimulate the economy by encouraging energy efficiency, infrastructure and workforce investment, and homeownership retention, and by amending the Internal Revenue Code of 1986 to provide certain business tax relief and ...

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June 11, 2008 Introduced Bill: S.3119

A bill to stimulate the economy by encouraging energy efficiency, infrastructure and workforce investment, and homeownership retention, and by amending the Internal Revenue Code of 1986 to provide certain business tax relief and ...

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Source: Open Congress : Sen. Susan Collins [R, ME]

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June 11, 2008 Bill Action: Introduced: S. 3119: A bill to stimulate the economy ...

Susan Collins [R-ME] introduced S. 3119: A bill to stimulate the economy by encouraging energy efficiency, infrastructure and workforce investment, and homeownership retention, and by amending the Internal Revenue Code of 1986 to ...

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