[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 53 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                 H. R. 53

  To amend the Internal Revenue Code of 1986 to deny a deduction for 
removal costs and damages for which taxpayers are liable under the Oil 
                         Pollution Act of 1990.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 2011

  Mr. Connolly of Virginia (for himself and Mr. Tonko) introduced the 
 following bill; which was referred to the Committee on Ways and Means

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to deny a deduction for 
removal costs and damages for which taxpayers are liable under the Oil 
                         Pollution Act of 1990.

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

SECTION 1. DENIAL OF DEDUCTION FOR REMOVAL COSTS AND DAMAGES FOR OIL 
              SPILLS.

    (a) In General.--Part IX of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 (relating to items not deductible) is 
amended by adding at the end the following new section:

``SEC. 280I. EXPENSES FOR REMOVAL COSTS AND DAMAGES RELATING TO OIL 
              SPILL LIABILITY.

    ``No deduction shall be allowed under this chapter for any amount 
paid or incurred with respect to any costs or damages for which the 
taxpayer is liable under section 1002 of the Oil Pollution Act of 1990 
(33 U.S.C. 2702).''.
    (b) Clerical Amendment.--The table of sections for part IX of 
subchapter B of chapter 1 of such Code is amended by adding at the end 
the following new item:

``Sec. 280I. Expenses for removal costs and damages relating to oil 
                            spill liability.''.
    (c) Effective Date.--The amendments made by this section shall 
apply with respect to any liability arising after December 31, 2009.
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