3.0.0 307 2022-11-15T16:34:41Z 2022-11-15T16:34:41Z Senate S S 2013-02-13 113 ssfi00 Finance Committee Senate Standing Referred to 2013-02-13T20:20:18Z End Welfare for Big Oil Act of 2013 113 2956 HR 2013-08-09 Referred to the Subcommittee on Energy and Mineral Resources. Related bill CRS Job Preservation and Economic Certainty Act of 2013 113 277 S 2013-02-11 Read twice and referred to the Committee on Finance. Related bill CRS Job Preservation and Sequester Replacement Act of 2013 113 278 S 2013-02-11 Read twice and referred to the Committee on Finance. Related bill CRS 2013-02-13 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2013-02-13 Introduced in Senate IntroReferral 10000 9 Library of Congress M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ N L000123 Sen. Lautenberg, Frank R. [D-NJ] FRANK LAUTENBERG D NJ R. 2013-02-13 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2013-02-13 True S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. 2013-02-13 True S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2013-02-13 True C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2013-02-13 True M001170 Sen. McCaskill, Claire [D-MO] Claire McCaskill D MO 2013-02-13 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2013-02-13 True W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2013-02-13 True S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH 2013-02-13 True F000457 Sen. Franken, Al [D-MN] Al Franken D MN 2013-02-13 True R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2013-02-13 True N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2013-02-13 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2013-02-13 True B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2013-02-13 True L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2013-02-13 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2013-02-13 True B000711 Sen. Boxer, Barbara [D-CA] BARBARA BOXER D CA 2013-04-11 False Taxation Budget deficits and national debt Energy revenues and royalties Income tax credits Income tax deductions Marine and coastal resources, fisheries Oil and gas Taxation of foreign income Taxation 00 2013-02-13 Introduced in Senate 2013-04-03T19:36:28Z Close Big Oil Tax Loopholes Act - Amends the Internal Revenue Code to limit or repeal certain tax benefits for major integrated oil companies (defined as companies with annual gross receipts over $1 billion and an average daily worldwide production of crude oil of at least 500,000 barrels or certain successors in interest of such companies), including: (1) the foreign tax credit for companies that are dual capacity taxpayers; (2) the tax deduction for income attributable to the production, refining, processing, transportation, or distribution of oil, natural gas, or primary products thereof; (3) the tax deduction for intangible drilling and development costs; (4) the percentage depletion allowance for oil and gas wells; and (5) the tax deduction for qualified tertiary injectant expenses.

Amends the Energy Policy Act of 2005 to repeal royalty relief (suspension of royalties) for: (1) natural gas production from deep wells in shallow waters of the Gulf of Mexico; and (2) deep water oil and gas production in the Western and Central Planning Area of the Gulf (including the portion of the Eastern Planning Area encompassing whole lease blocks lying west of 87 degrees, 30 minutes west longitude).

Dedicates any increased revenue generated by this Act to the reduction of a federal budget deficit or the federal debt.

Provides for compliance of the budgetary effects of this Act with the Statutory Pay-As-You-Go Act of 2010.

]]> Close Big Oil Tax Loopholes Act Display Title Close Big Oil Tax Loopholes Act Short Titles as Introduced Close Big Oil Tax Loopholes Act Official Title as Introduced A bill to reduce the Federal budget deficit by closing big oil tax loopholes, and for other purposes. Introduced in Senate 2013-02-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113s307is/xml/BILLS-113s307is.xml 2013-02-13 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.