Comprehensive Electricity Competition Tax Act
Latest action. subcommitteeA smaller panel inside a standing committee with jurisdiction over a slice of its subject matter. Most hearings and the first markup usually happen here.Read the full definition (opens a new tab) on Long-term Growth, Debt Reduction. Hearings held.
Comprehensive Electricity Competition Tax Act - Title I: Amendments to Internal Revenue Code - Amends the Internal Revenue Code with respect to tax-exempt private activity bonds to declare that the determination whether any electric output facility bond issued before enactment of this Act (pre-effective date electric output facility bond) is a private activity bond shall be made without regard to any specified permissible competitive action taken by the issuer. Requires such a bond not to be a private activity bond or industrial development bond as of the date of enactment of this Act. Makes this Act inapplicable to any qualified refunding bond meeting certain criteria which is issued to refund a pre-effective date electric output facility bond if the net proceeds of the refunding bond are used within 90 days of issuance to redeem the refunded bond. Qualifies for tax exemption private activity bonds for electric output facilities issued after enactment of this Act, excluding any part of an issue for distribution property that operates at 69 kilovolts or less. Modifies special rules for nuclear decommissioning costs to eliminate cost-of-service as the maximum which a taxpayer may pay into a Nuclear Decommissioning Fund. Includes any distributed power property within 15-year depreciation property. Establishes an eight percent investment credit for combined heat and power (CHP) system property placed in service in calendar years 2000 through 2002. Precludes any carryback of the energy credit prior to the effective date of this Act, except for solar and geothermal energy property.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on May 13, 1999. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on October 19, 1999: Subcommittee on Long-term Growth, Debt Reduction. Hearings held.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 106th Congress (1999-00), 580 of the 9,158 bills and joint resolutions introduced became law, about 6.3 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
FRANK MURKOWSKI (R-AK) introduced it on May 13, 1999, and 1 member has since signed on as a cosponsor.
They are 1 Democrat.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on May 13, 1999, 9982 days ago. The most recent recorded action was 9823 days ago, on October 19, 1999.
Measures do not carry over. Anything the 106th Congress has not finished by January 3, 2001 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers