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H.R. 3379

BillFederalHouseIn Committee
Lowering Oil Price Speculation for Infrastructure Dedicated to Economic Development Act of 2009
About This Bill
Committee
Latest Action · July 29, 2009
Referred to the House Committee on Ways and Means.
Congress
111th (2009–2011)
Introduced
July 29, 2009
Cosponsors (30)
30D 0R
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Summary

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Lowering Oil Price Speculation for Infrastructure Dedicated to Economic Development Act of 2009 or the LOPSIDED Oil Prices Act of 2009 - Amends the Internal Revenue Code to: (1) impose an excise tax on transactions in oil futures and options, to be paid by the trading facility on which the transactions occur or the buyer of the transactions; (2) require withholding of such tax; and (3) deposit revenues from the tax into the Highway Trust Fund. Exempts from such tax certain commercial oil traders and bona fide hedging transactions.

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