H.R. 2821 · 112th Congress
To allow damage payments from BP in connection with the blowout and explosion on the offshore drilling unit…
Full title
To allow damage payments from BP in connection with the blowout and explosion on the offshore drilling unit Deepwater Horizon to be included in gross income ratably over 3 years.
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
PalazzoSponsor5 cosponsors · 1 D, 4 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Allows taxpayers to elect to include any payment from BP PLC for damages related to the blowout and explosion on the mobile offshore drilling unit Deepwater Horizon that occurred on April 20, 2010, in gross income ratably over a three-year period for tax purposes (income averaging).
What it does: CRS summary · Introduced in House · Aug 16, 2011
Allows taxpayers to elect to include any payment from BP PLC for damages related to the blowout and explosion on the mobile offshore drilling unit Deepwater Horizon that occurred on April 20, 2010, in gross income ratably over a three-year period for tax purposes (income averaging).
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To allow damage payments from BP in connection with the blowout and explosion on the offshore drilling unit Deepwater Horizon to be included in gross income ratably over 3 years.
Latest action (Aug 30, 2011): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Aug 16, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.