Surface Transportation Investment Act of 2019

Summary

Surface Transportation Investment Act of 2019 This bill limits or repeals certain tax benefits for major integrated oil companies, including (1) the foreign tax credit for companies that are dual capacity taxpayers, (2) the tax deduction for intangible drilling and development costs, (3) the percentage depletion allowance for oil and gas wells, and (4) the tax deduction for qualified tertiary injectant expenses. The bill modifies the definition of "major integrated oil company" to include certain successors in interest that control more than 50% of the crude oil production or natural gas production of the company. The bill establishes a Transportation Block Grant Fund and appropriates to the fund amounts equal to the increase in revenues as a result of this bill. The funds must be used for making grants under the Surface Transportation Block Grant Program.

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Timeline

1. 30 January 2019

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 30 January 2019

   Introduced

   Introduced in House

   Source: IntroReferral

3. 30 January 2019

   Introduced

   Introduced in House

   Source: IntroReferral

4. 7 February 2019

   Referred

   Referred to the Subcommittee on Highways and Transit.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 30 January 2019 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 30 January 2019

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 30 January 2019

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 30 January 2019

  Open at official source

Sponsors

• Julia Brownley · D · Sponsor
• Gilbert Cisneros · D · Cosponsor
• · hspw00 · Standing
• · hswm00 · Standing

Related records

• related to → Surface Transportation Investment Act of 2021