[Congressional Record Volume 159, Number 107 (Wednesday, July 24, 2013)]
[Senate]
[Pages S5908-S5909]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. BOOZMAN (for himself and Mr. Pryor):
  S. 1350. A bill to exclude from gross income compensation provided 
for victims of the March 29, 2013, pipeline oil spill in Mayflower, 
Arkansas; to the Committee on Finance.
  Mr. BOOZMAN. Mr. President, on March 29, 2013, the ExxonMobil 
pipeline

[[Page S5909]]

ruptured spilling an estimated 147,000 gallons of oil into Mayflower, 
Arkansas. Victims of this oil spill are rightfully being compensated by 
ExxonMobil, but the Internal Revenue Service has said that compensatory 
payments will be considered taxable income. These families should not 
have to pay taxes on this disaster relief assistance. The Mayflower Oil 
Spill Tax Relief Act of 2013 prohibits compensation to Mayflower oil 
spill victims from being taxed by treating it as ``a qualified disaster 
relief payment'' under current law. My colleague Senator Pryor joins me 
in introducing this important legislation. I would also like to thank 
Representative Tim Griffin for his support and leadership on the House 
companion version of the Mayflower Oil Spill Tax Relief Act of 2013.
  Mr. President, I ask unanimous consent that the text of the bill be 
printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 1350

       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 ``Mayflower Oil Spill Tax 
     Relief Act of 2013''.

     SEC. 2. MAYFLOWER, ARKANSAS OIL SPILL COMPENSATION EXCLUDED 
                   FROM GROSS INCOME.

       For purposes of the Internal Revenue Code of 1986--
       (1) the March 29, 2013, pipeline rupture and oil spill in 
     Mayflower, Arkansas, shall be treated as a qualified disaster 
     under section 139(c) of such Code, and
       (2) any compensation provided to or for the benefit of a 
     victim of such disaster shall be treated as a qualified 
     disaster relief payment under section 139(b) of such Code.
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