H.R.4043 - Fuel Energy Affordability and Conservation Act106th Congress (1999-2000)
Summary: H.R.4043 — 106th Congress (1999-2000)
Fuel Energy Affordability and Conservation Act - Title I: Drawdown of Strategic Petroleum Reserve - Amends the Energy Policy and Conservation Act to cite additional circumstances for a presidential determination of when a severe energy supply interruption shall be deemed to exist.
Introduced in House (03/21/2000)
Mandates that proceeds from sales of petroleum drawn down pursuant to such determinations be: (1) deposited in the SPR Petroleum Account; and (2) used only for specified purposes.
Directs the President to report to certain congressional committees on causes and potential consequences if the price of a barrel of crude oil exceeds $25 for a period greater than 14 days.
Title II: Credits for Energy Efficiency Improvements by Homeowners and Small Businesses - Amends the Internal Revenue Code to allow as a tax credit of 20 percent of the expenses (up to $2000) of qualified energy efficiency improvements by: (1) the taxpayer to an existing home; and (2) eligible small businesses to improvements placed in service during the taxable year.