A bill to amend the Internal Revenue Code of 1954 to provide individuals a refundable credit against income tax for the fair market value of fuel oil which the taxpayer is unable to use by reason of having converted his heating system to an energy source other than fuel oil and which is contributed to a charitable organization.

Amends the Internal Revenue Code to allow a credit against an individual's income tax in an amount (not to exceed $200, or $100 in the case of a married individual filing separately) equal to such taxpayer's qualified fuel oil contribution for the taxable year. Defines such fuel oil contribution as the fair market value of fuel oil: (1) the taxpayer has purchased but cannot use by reason of having converted the heating system for his residence to an energy source other than fuel oil; and (2) the taxpayer has consequently contributed to a tax-exempt charitable organization.

Denies a charitable contribution deduction to any taxpayer who takes advantage of such credit.