S. 3422 · 109th Congress
A bill to provide for the tax treatment of income received in connection with the litigation concerning the…
Full title
A bill to provide for the tax treatment of income received in connection with the litigation concerning the Exxon Valdez oil spill.
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
MurkowskiSponsorNo cosponsors.
Allows taxpayers who are plaintiffs in the civil action In re Exxon Valdez , No. 89-095-CV (HRH) (Consolidated) (D.
What it does: CRS summary · Introduced in Senate · Jun 6, 2006
Allows taxpayers who are plaintiffs in the civil action In re Exxon Valdez, No. 89-095-CV (HRH) (Consolidated) (D. Alaska) to: (1) elect to average, for income tax purposes, income received in settlement of such civil action for the period beginning on January 1, 1994, and ending on December 31 of the year in which any settlement income is received; and (2) make contributions of any amount of such settlement income to certain tax-exempt retirement plans in the year such income is received.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to provide for the tax treatment of income received in connection with the litigation concerning the Exxon Valdez oil spill.
Latest action (Jun 6, 2006): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5494)
Policy area: Taxation · Origin: Senate · Introduced: Jun 6, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.