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- H.R.601
H.R.601: End Big Oil Tax Subsidies Act of 2011
About This Bill
- This bill was introduced in the 112th Congress
- This bill is primarily about taxation
- Introduced Feb. 10, 2011
- Latest Major Action Feb. 10, 2011
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
52 (All Democrats)
Bill Summary
End Big Oil Tax Subsidies Act of 2011- Amends the Internal Revenue Code to require seven-year amortization of the geological and geophysical expenditures of covered large oil companies. Defines "covered large oil company" as a taxpayer which is a major integrated oil company or which has gross receipts in excess of $50 million in a taxable year. Denies certain tax benefits to any taxpayer that is not a small, independent oil and gas company,...
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
Bill Actions
| Date | Description |
|---|---|
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Sponsor introductory remarks on measure.
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Referred to the House Committee on Ways and Means.
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| Feb. 10, 2011 |
Introduced in the House by Earl Blumenauer (D-Ore.) |