Offending Oil Polluters Act

Summary

Offending Oil Polluters Act This bill amends the Internal Revenue Code to deny any tax credit or deduction to an offending oil polluter. The bill defines "offending oil polluter" as any person who is responsible for a vessel or facility from which oil or a hazardous substance is discharged and any person who is a member of the same expanded affiliated group as the offending oil polluter. Specifically, the bill denies a tax benefit for any amount paid or incurred: (1) in connection with a discharge of oil or a hazardous substance, (2) for any attorney fees and court costs in connection with any legal action involving such discharge, (3) as a payment or restitution related to such discharge, and (4) for any costs or penalties required by federal law or certified in a settlement by a federal court. The bill requires the Department of the Treasury to conduct, and report on, an annual study to determine: (1) the revenue loss as a result of tax deductions allowed for cleaning up oil that is discharged after April 19, 2010, and (2) the amount of revenue savings resulting from this Act.

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Timeline

1. 16 October 2015

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 16 October 2015

   Introduced

   Introduced in House

   Source: IntroReferral

3. 16 October 2015

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 16 October 2015 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 16 October 2015

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 16 October 2015

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 16 October 2015

  Open at official source

Sponsors

• ELIOT ENGEL · D · Sponsor
• Sen. Welch, Peter [D-VT] · D · Sponsor
• Rep. Grayson, Alan [D-FL-9] · D · Cosponsor
• Rep. Nadler, Jerrold [D-NY-12] · D · Cosponsor
• Raúl Grijalva · D · Cosponsor
• Betty McCollum · D · Cosponsor
• Del. Norton, Eleanor Holmes [D-DC-At Large] · D · Cosponsor
• Sen. Gallego, Ruben [D-AZ] · D · Cosponsor
• Barbara Lee · D · Cosponsor
• Alan Lowenthal · D · Cosponsor
• ALCEE HASTINGS · D · Cosponsor
• Maxine Waters · D · Cosponsor
• Gerald Connolly · D · Cosponsor
• Rep. Schakowsky, Janice D. [D-IL-9] · D · Cosponsor
• Rep. Pocan, Mark [D-WI-2] · D · Cosponsor
• LUIS GUTIERREZ · D · Cosponsor
• Jared Huffman · D · Cosponsor
• Rep. Farr, Sam [D-CA-20] · D · Cosponsor
• Rep. Honda, Michael M. [D-CA-17] · D · Cosponsor
• Mark Takano · D · Cosponsor
• Anna Eshoo · D · Cosponsor
• Niki Tsongas · D · Cosponsor
• Rep. DeSaulnier, Mark [D-CA-10] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to → Offending Oil Polluters Act