A bill to amend the Internal Revenue Code of 1954 to provide a tax credit for home heating oil expenses.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow individuals a refundable income tax credit equal to 25 percent of the total cost of heating oil purchased by such individual for use in a residence for residential purposes. Limits the dollar amount of such credit to $150 for the taxable year. Reduces the amount of such credit by one percent of the amount by which the taxpayer's adjusted gross income exceeds $15,000.…