To amend the Internal Revenue Code of 1986 to establish a dedicated trust fund for investments in oil and gas communities.

Vicente Gonzalez

Democrat · TX · Representative

Source: Congress.gov · FEC

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

2026-09-16

Source: Congress.gov

Plain-English summary pending. Introduced on 2026-09-16. Check back soon — summaries are generated as bills progress through Congress.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 10434 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 10434 To amend the Internal Revenue Code of 1986 to establish a dedicated trust fund for investments in oil and gas communities. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 16, 2026 Mr. Vicente Gonzalez of Texas introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to establish a dedicated trust fund for investments in oil and gas communities. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Empower Energy Exporting Communities Act''. SEC. 2. OIL AND GAS COMMUNITY TRUST FUND. (a) In General.--Subchapter A of chapter 98 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: ``SEC. 9512. OIL AND GAS COMMUNITY TRUST FUND. ``(a) In General.--There is established in the Treasury of the United States a trust fund to be known as the `Oil and Gas Community Trust Fund' consisting of such amounts as may be appropriated to such Trust Fund as provided in this section and section 9602(b). ``(b) Transfers to Trust Fund.-- ``(1) In general.--There are hereby appropriated to the Oil and Gas Community Trust Fund amounts equivalent to 3 percent of the net revenues received in the Treasury under section 11 from specified oil or gas companies for taxable years beginning after the date of the enactment of this section. ``(2) Specified oil or gas company.--The term `specified oil or gas company' means any corporation if a significant portion of the gross receipts of such corporation are attributable to the production, refining, processing, transportation, or distribution of oil, gas, or any primary product thereof. ``(c) Expenditures From Trust Fund.-- ``(1) In general.--Amounts in the Oil and Gas Community Trust Fund shall be available to the Secretary, without need of further appropriation and without fiscal year limitation, for purposes of making payments to eligible oil and gas communities for infrastructure and public service investments. ``(2) Eligible oil and gas community.--For purposes of this subsection, the term `eligible oil and gas community' means any county, parish, municipality, or Tribal community if the Secretary determines that such county, parish, municipality, or Tribal community is located within 50 miles of a major port for the export of oil, gas, or any primary product thereof. ``(3) Limitation based on export share.-- ``(A) In general.--For any fiscal year, payments made under paragraph (1) during such year to eligible oil and gas communities in a port region shall not exceed, in the aggregate, the amount which bears the same ratio to the total amounts available in the Oil and Gas Community Trust Fund as the port region's total amount of exports of oil, gas, or any primary product thereof bears to the total amount of such exports of all major ports nationwide (as determined by the Secretary based on the most recent year for which data is available). ``(B) Port region.--For purposes of this paragraph, the term `port region' means any region within 50 miles of a major port for the export of oil, gas, or any primary product thereof.''. (b) Clerical Amendment.--The table of sections…

for subchapter A of chapter 98 of such Code is amended by adding at the end the following new item: ``Sec. 9512. Oil and Gas Community Trust Fund.''. <all>

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