H.R.1426 - Big Oil Welfare Repeal Act of 2013

To amend the Internal Revenue Code of 1986 to disallow the deduction for income attributable to domestic production activities with respect to oil and gas activities of major integrated oil companies. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to disallow the deduction for income attributable to domestic production activities with respect to oil and gas activities of major integrated oil companies. as introduced.
  • Short: Big Oil Welfare Repeal Act of 2013 as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
04/09/13
 
 
 
 
 
 
 

Sponsor

Representative

Timothy Bishop

D-NY

View Co-Sponsors (2)

Official Summary

Big Oil Welfare Repeal Act of 2013 - Amends the Internal Revenue Code to eliminate the tax deduction for income attributable to domestic production activities for major integrated oil companies (companies that have an average daily worldwide production of crude oil of at least 500,000 barre

Official Summary

Big Oil Welfare Repeal Act of 2013 - Amends the Internal Revenue Code to eliminate the tax deduction for income attributable to domestic production activities for major integrated oil companies (companies that have an average daily worldwide production of crude oil of at least 500,000 barrels for a taxable year and gross receipts exceeding $1 billion for their last taxable year ending during 2005).

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