3.0.0 6658 2023-01-11T13:41:44Z 2023-01-11T13:41:44Z House HR 2018-08-07 115 [Congressional Record Volume 164, Number 132 (Tuesday, August 7, 2018)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ENGEL:H.R. 6658.Congress has the power to enact this legislation pursuantto the following:The bill is enacted pursuant to the power granted toCongress under the following provisions of the United StatesConstitution:Article I, Section 1;Article I, Section 8, Clause 1;Article I, Section 8, Clause 3; andArticle I, Section 8, Clause 18.[Page H7748]]]> hswm00 Ways and Means Committee House Standing Referred to 2018-08-07T14:01:25Z 2018-08-07 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2018-08-07 Introduced in House IntroReferral Intro-H 9 Library of Congress 2018-08-07 Introduced in House IntroReferral 1000 9 Library of Congress E000179 Rep. Engel, Eliot L. [D-NY-16] ELIOT ENGEL D NY L. 16 N W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2018-08-07 True Taxation Civil actions and liability Hazardous wastes and toxic substances Income tax credits Income tax deductions Legal fees and court costs Marine pollution Oil and gas Pollution liability Taxation 00 2018-08-07 Introduced in House 2018-08-24T19:18:45Z Offending Oil Polluters Act

This bill amends the Internal Revenue Code to deny certain tax credits or deductions to an offending oil polluter. The bill defines "offending oil polluter" as any person who is responsible for a vessel or facility from which oil or a hazardous substance is discharged and any person who is a member of the same expanded affiliated group as the offending oil polluter.

Specifically, the bill denies a deduction or a credit for any amount paid or incurred:

  • in connection with a discharge of oil or a hazardous substance,
  • for attorney fees and court costs in connection with any legal action involving such discharge,
  • as a payment or restitution related to such discharge, and
  • for costs or penalties certified in a settlement by a federal court or required by federal law or regulations.

The Department of the Treasury must report to Congress regarding: (1) the revenue loss as a result of tax deductions allowed for cleaning up oil that is discharged after April 19, 2010, and (2) the amount of revenue savings resulting from this bill.

]]> Offending Oil Polluters Act Display Title Offending Oil Polluters Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to deny certain tax benefits to persons responsible for the discharge of oil or other hazardous substances into navigable waters of the United States. Introduced in House IH Short Titles as Introduced Offending Oil Polluters Act Introduced in House 2018-08-07T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr6658ih/xml/BILLS-115hr6658ih.xml 2018-08-07 Referred to the House Committee on Ways and Means. 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.