HR 1689
112th Congress
House
Taxation
Income tax deductions
Oil and gas
Big Oil Welfare Repeal Act of 2011
Introduced: May 3, 2011
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 3, 2011
Referred to the House Committee on Ways and Means.
May 3, 2011
Introduced in House
Plain-English summary
Big Oil Welfare Repeal Act of 2011 - Amends the Internal Revenue Code to deny a tax deduction for income attributable to the domestic production, refining, processing, transportation, or distribution of oil, gas, or any primary products thereof by a major integrated oil company (an oil company which has an average daily worldwide production of crude oil of at least 500,000 barrels for the taxable year and which had gross receipts in excess of $1 billion for its last taxable year ending during calendar year 2005).
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1