To allow damage payments from BP in connection with the blowout and explosion on the offshore drilling unit Deepwater Horizon to be included in gross income ratably over 3 years.

Summary

Allows taxpayers to elect to include any payment from BP PLC for damages related to the blowout and explosion on the mobile offshore drilling unit Deepwater Horizon that occurred on April 20, 2010, in gross income ratably over a three-year period for tax purposes (income averaging).

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 16 August 2011

   Introduced

   Introduced in House

   Source: IntroReferral

2. 16 August 2011

   Introduced

   Introduced in House

   Source: IntroReferral

3. 30 August 2011

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 30 August 2011 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 30 August 2011

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 30 August 2011

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 16 August 2011

  Open at official source

Sponsors

• Steven Palazzo · R · Sponsor
• Rep. Miller, Jeff [R-FL-1] · R · Sponsor
• Rep. Nunnelee, Alan [R-MS-1] · R · Cosponsor
• Rep. Bonner, Jo [R-AL-1] · R · Cosponsor
• Gregg Harper · R · Cosponsor
• Cedric Richmond · D · Cosponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.