[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1426 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 1426

 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.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 9, 2013

    Mr. Bishop of New York 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 
2013''.

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 (A) of section 199(d)(9) of the 
Internal Revenue Code of 1986 is amended by inserting ``(9 percent in 
the case of any major integrated oil company (as defined in section 
167(h)(5)(B)))'' after ``3 percent''.
    (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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