[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1689 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 1689

 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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 3, 2011

Mr. Bishop of New York (for himself, Mr. Filner, Ms. Schwartz, Ms. Lee 
  of California, Ms. Hirono, Mrs. Maloney, Mr. Engel, Mr. Carney, Mr. 
McGovern, Mr. Rothman of New Jersey, Ms. Moore, Ms. Linda T. Sanchez of 
 California, Mr. Ackerman, Mr. Deutch, Mr. Blumenauer, Mr. Jackson of 
 Illinois, Mr. Rush, Mr. Yarmuth, Mr. Van Hollen, Mr. Holt, Ms. Castor 
  of Florida, Mr. Johnson of Georgia, Mr. Carnahan, Mr. Hinchey, Mr. 
Welch, Mr. Kildee, Mr. Tonko, Mr. Farr, Ms. Hanabusa, Mr. Quigley, Mr. 
   Cicilline, Mrs. Lowey, Mr. Keating, Mr. Conyers, Mr. Nadler, Ms. 
Kaptur, Ms. Norton, Mr. Brady of Pennsylvania, Mrs. Capps, Ms. Bass of 
California, Ms. McCollum, Mr. Braley of Iowa, Mr. Meeks, Ms. Slaughter, 
 Mr. George Miller of California, Mr. Grijalva, Mr. Israel, Ms. Roybal-
    Allard, Mr. Andrews, Mr. Higgins, Ms. Sutton, and Mr. Serrano) 
 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 disallow the deduction 
for income attributable to domestic production activities with respect 
      to oil and gas activities of major integrated oil companies.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Big Oil Welfare Repeal Act of 
2011''.

SEC. 2. DEDUCTION FOR INCOME ATTRIBUTABLE TO DOMESTIC PRODUCTION 
              ACTIVITIES NOT ALLOWED WITH RESPECT TO OIL AND GAS 
              ACTIVITIES OF MAJOR INTEGRATED OIL COMPANIES.

    (a) In General.--Subparagraph (B) of section 199(c)(4) of the 
Internal Revenue Code of 1986 is amended by striking ``and'' at the end 
of clause (ii), by striking the period at the end of clause (iii) and 
inserting ``, and'', and by inserting after clause (iii) the following 
new clause:
                            ``(iv) in the case of a major integrated 
                        oil company (as defined in section 167(h)(5)), 
                        the production, refining, processing, 
                        transportation, or distribution of oil, gas, or 
                        any primary product thereof.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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