Ways and Means' Energy Tax Plan Would Help Gas Utilities Prepay Contracts

Duff, Susanna
April 2003
Bond Buyer;4/4/2003, Vol. 344 Issue 31608, p6
Trade Publication
The House Ways and Means Committee approved an energy tax package on April 3, 2003, containing a provision that would take municipal gas authorities one step closer to what they say is a more reasonable way to regulate the use of tax-exempt bonds to prepay long-term gas contracts. The Energy Tax Policy Act of 2003, adopted by a vote of 24 to 12, would clarify the regulations proposed a year ago by the U.S. Treasury that would allow municipal gas authorities to prepay natural-gas supply contracts with tax-exempt bonds without violating arbitrage restrictions. Under the proposed regulations, which are already in effect, states and local municipalities can issue bonds to prepay natural gas contracts only if at least 95 percent of the gas is sold to retail customers in their service area. The Senate Finance Committee's energy tax measure is also expected to be combined with a comprehensive energy bill on which the Senate Energy and Natural Resources Committee is expected to act around May 1, and then the package will be considered by the full Senate later in the spring.


Related Articles

  • No Experts On Munis for House Panel. Kinnander, Ola // Bond Buyer;01/03/2001, Vol. 335 Issue 31049, p1 

    No abstract available.

  • New House Bill Brings Back TOB Concerns. Barnett, Susanna Duff // Bond Buyer;7/28/2003, Vol. 345 Issue 31686, p4 

    Reports on the effect of HR 2896, the American Jobs Creation Act of 2003 related to international tax laws, introduced by the U.S. House Ways and Means Committee, on tax-exempt tender-option bonds. Provisions under the law; Impact of the law on corporate tax laws; Effect of the law on local...

  • House Committee Expected to Vote On Alternative Minimum Tax Patch. Schroeder, Peter // Bond Buyer;6/18/2008, Vol. 364 Issue 32902, p5 

    The article reports on the bill which provides a one-year patch to the alternative minimum tax (AMT) and which is expected to be voted by the House Ways and Means Committee in the U.S. The bill, which needs to garner 60 votes to be considered, is created by committee chairman Charles Rangel....

  • House Ways and Means Panel Cuts Pair of Bond Provisions From Water Bill. Sanchez, Humberto // Bond Buyer;4/18/2002, Vol. 340 Issue 31368, p5 

    Reports the decision of the U.S. House Ways and Means Committee to eliminate tax-exempt bond provisions for water infrastructure bill. Issuance of private-activity bonds to finance the construction of drinking water; Approval of the water infrastructure bill; Jurisdiction of the committee on...

  • 'Tax Extenders' Bill Faces Uncertain Future. McConnell, Alison L.; Sanchez, Humberto // Bond Buyer;12/7/2006, Vol. 358 Issue 32523, p4 

    The article reports that the qualified zone academy bond program would be extended through 2007 but restricted with arbitrage rebate, spend-down and reporting requirements under the latest version of the tax extenders bill in the U.S. The bill would have to be approved in the House Ways and...

  • Boost to Road Bonds? Sanchez, Humberto // Bond Buyer;3/5/2004, Vol. 347 Issue 31835, p1 

    Reports on the inclusion of a proposed corporate tax law change that would allow private companies to use tax-exempt private activity bonds in the legislation drafted by the U.S. House Ways and Means Committee. Finance of the construction of transportation infrastructure projects; Design of the...

  • House Panel to Consider Bill Raising Private-Activity Cap. Resnick, Amy B. // Bond Buyer;09/16/98, Vol. 325 Issue 30479, p1 

    Focuses on the legislation proposed by United States House Ways and Means Committee chairman Bill Archer that would increase the private-activity bond volume cap by 50 percent. Part of Archer's tax cut package; Arbitrage provision of the bill appreciated by municipal market participants and...

  • FAR WEST Bond-Watch. Finestone, Deborah; Williams, Rochelle // Bond Buyer;5/9/2003, Vol. 344 Issue 31632, p35 

    Presents news briefs related to bonds in the U.S. as of May 2003. Joint resolutions moved by the House Special Committee on Ways and Means to stabilize Alaska's fiscal future; California state senator's proposal for the dedication of refunds received by the state from claims of energy market...

  • House Panel Vote Expected on Energy Bond Bill. Schroeder, Peter // Bond Buyer;5/15/2008, Vol. 364 Issue 32876, p5 

    The article reports that HR 6049 or the Energy and Tax Extenders Act of 2008 sponsored by the U.S. House Ways and Means Committee chairman Charles Rangel has finally put under vote to legalize the proposed issuance of up to $5.4 billion of tax credit bonds. If legalized, the bond will be used to...


Read the Article


Sign out of this library

Other Topics