S.1588 - Stop Taxbreaks for Oil Profiteering Act

A bill to amend the Internal Revenue Code of 1986 to provide the same tax treatment for both commercial and noncommercial investors in oil and natural gas and related commodities, and for other purposes. view all titles (3)

All Bill Titles

  • Official: A bill to amend the Internal Revenue Code of 1986 to provide the same tax treatment for both commercial and noncommercial investors in oil and natural gas and related commodities, and for other purposes. as introduced.
  • Short: Stop Taxbreaks for Oil Profiteering Act as introduced.
  • Short: STOP Act as introduced.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

 
Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
08/06/09
 
 
 
 
 
 
 

Latest Action Aug 06, 2009Read twice and referred to the Commi... Related Bills (0) & Issues (7)
8/6/2009--Introduced.Stop Tax-breaks for Oil Profiteering Act or the STOP Act - Amends the Internal Revenue Code to: (1) treat gain or loss from the sale or exchange of oil or natural gas and related commodities as ordinary income or loss (thus taxed at regular income tax rates); and (2) r

Official Summary

8/6/2009--Introduced.Stop Tax-breaks for Oil Profiteering Act or the STOP Act - Amends the Internal Revenue Code to:
(1) treat gain or loss from the sale or exchange of oil or natural gas and related commodities as ordinary income or loss (thus taxed at regular income tax rates); and
(2) require certain tax-exempt entities to pay unrelated business tax on gain or loss from the sale or exchange of oil or natural gas and related commodities. Makes such tax treatment applicable to commodities acquired after August 31, 2009, and before January 1, 2014. Directs the Secretary of the Treasury to study and report to Congress on the tax treatment of certain commodities and contracts under section 1256 of the Internal Revenue Code.

...Read the Rest

FEED
Recent News Coverage

Hmmmm, no news coverage found for this bill at this time. This means that this this bill has not yet been mentioned on a publicly-searchable news website by either its official number (for example, "H.R. 3200") or title (for example, "America's Affordable Health Choices Act of 2009"). As soon as that changes, our daily automated search across the Web will catch it and include it here. If this bill is of interest to you, you can write a letter to the editor referring to this bill by name, and if your letter is published on the Web, a link back your letter will appear here within about one day. Or, if you know of a news article about this bill to display here, email us the web address of this page and the web address of your suggested news article: Our editorial team will post relevant links as quickly as possible. Thanks for helping to build public knowledge about Congress.

FEED
Recent Blog Coverage

View All (5)  |  View Top Rated

09/30/09
Lester Young - Handytarife & Handy-Angebote

Ausführlich dokumentiert auf den 8 CDs der „Complete Lester Young Studio Sessions on Verve“. Richard Morton/Brian Cook: The Penguin Guide to Jazz On CD, Sixth edition, Penguin, London 2002. ↑ S. 1588. Rainer Nolden: Count Basie. ...

Add to My Political Notebook Save to Notebook Rate
08/07/09
Michael Jackson tribute: Wyden's Proposal for taxing oil and gas ...

Today, Wyden introduced a bill (S. 1588) that deals with together of these issues. It would end a tax break currently enjoyed by speculators who trade in lubricate and gas. They'd have to pay tax at the normal income rates, ...

Add to My Political Notebook Save to Notebook Rate
08/05/09
S. 1588: A bill to amend the Internal Revenue Code of 1986 to ...

A bill in the US Congress: A bill to amend the Internal Revenue Code of 1986 to provide the same tax treatment for both commercial and noncommercial investors in oil and natural gas and related commodities, and for other purposes.

Add to My Political Notebook Save to Notebook Rate

Bill's Views

  • Today: 2
  • Past Seven Days: 7
  • All-Time: 261

50%

Users Support Bill

1 in favor / 1 opposed
Write Your Senators
Track with MyOC

OpenCongress is a free and open-source joint project of two non-profit organizations, the Participatory Politics Foundation and the Sunlight Foundation.