S 2287
115th Congress
Senate
Taxation
Accounting and auditing
Energy prices
Energy revenues and royalties
Gulf of Mexico
Health technology, devices, supplies
Marine and coastal resources, fisheries
Oil and gas
Sales and excise taxes
Tax administration and collection, taxpayers
No Taxation on Device Innovation Act
Introduced: January 10, 2018
Introduced by:
Markey, Edward J.
Democratic
· Massachusetts
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 10, 2018
Read twice and referred to the Committee on Finance.
Jan 10, 2018
Introduced in Senate
Plain-English summary
No Taxation on Device Innovation Act
This bill amends the Internal Revenue Code to repeal the excise tax on medical devices. The bill also prohibits: (1) major integrated oil companies from using the last-in, first-out (LIFO) accounting method; and (2) the issuance of new oil or natural gas production leases in the Gulf of Mexico under the Outer Continental Shelf Lands Act to any person who does not renegotiate certain existing leases to require royalty payments if the price of oil and natural gas is greater than or equal to specified price thresholds.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1