I 111th CONGRESS 2d Session H. R. 5104 IN THE HOUSE OF REPRESENTATIVES April 21, 2010 Mr. Pomeroy (for himself and Mr. Nunes) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to allow for the deduction for domestic oil related production activities of companies which are not major integrated oil companies.

1.

Deduction for domestic oil related production activities allowed for companies which are not major integrated oil companies

(a)

In general

Subparagraph (A) of section 199(d)(9) of the Internal Revenue Code of 1986 is amended by striking has oil related qualified production activities income and inserting is a major integrated oil company (as defined in section 167(h)(5)(B)). (b)

Conforming amendment

Paragraph (9) of section 199(d) of such Code is amended by striking taxpayers with oil related qualified production activities income and inserting major integrated oil companies. (c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2009.