US Congress House Bill 2956 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 9-0)
Status: Introduced on August 1 2013 - 25% progression, died in committee
Action: 2013-08-09 - Referred to the Subcommittee on Energy and Mineral Resources.
Pending: House Subcommittee on Energy and Mineral Resources Committee
Text: Latest bill text (Introduced) [PDF]

End Welfare for Big Oil Act of 2013 - Amends the Internal Revenue Code to limit or repeal certain tax benefits for major integrated oil companies (defined as companies with annual gross receipts over $1 billion and an average daily worldwide production of crude oil of at least 500,000 barrels or certain successors in interest of such companies), including: (1) the foreign tax credit for companies that are dual capacity taxpayers; (2) the tax deduction for income attributable to the production, transportation, or distribution of oil, natural gas, or primary products thereof; (3) the tax deduction for intangible drilling and development costs; (4) the percentage depletion allowance for oil and gas wells; and (5) the tax deduction for qualified tertiary injectant expenses. Amends the Energy Policy Act of 2005 to repeal royalty relief (suspension of royalties) for: (1) natural gas production from deep wells in shallow waters of the Gulf of Mexico; and (2) deep water oil and gas production in the Western and Central Planning Area of the Gulf (including the portion of the Eastern Planning Area encompassing whole lease blocks lying west of 87 degrees, 30 minutes west longitude). Dedicates any increased revenue generated by this Act to the reduction of a federal budget deficit or the federal debt.

End Welfare for Big Oil Act of 2013

Rep. Patrick Murphy [D-FL]	Rep. Ron Barber [D-AZ]	Rep. Earl Blumenauer [D-OR]	Rep. Corrine Brown [D-FL]
Rep. Kathy Castor [D-FL]	Rep. Elizabeth Esty [D-CT]	Rep. Alcee Hastings [D-FL]	Rep. James McGovern [D-MA]
Rep. Jared Polis [D-CO]

Date	Chamber	Action
2013-08-09	House	Referred to the Subcommittee on Energy and Mineral Resources.
2013-08-01	House	Referred to House Natural Resources
2013-08-01	House	Referred to House Ways and Means
2013-08-01	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, 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.

HB601 (Related) 2013-02-21 - Referred to the Subcommittee on Energy and Mineral Resources.
SB277 (Related) 2013-02-11 - Read twice and referred to the Committee on Finance.
SB278 (Related) 2013-02-11 - Read twice and referred to the Committee on Finance.
SB307 (Related) 2013-02-13 - Read twice and referred to the Committee on Finance.
HB699 (Related) 2013-03-01 - Referred to the Subcommittee on General Farm Commodities and Risk Management.
HB1295 (Related) 2013-03-20 - Referred to the House Committee on Ways and Means.
SB329 (Related) 2013-02-14 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/2956/all-info
Text	https://www.congress.gov/113/bills/hr2956/BILLS-113hr2956ih.pdf