II 

116TH CONGRESS 

2D SESSION S. 4041 

To assist the American energy sector in retaining jobs during challenging 

economic times. 

IN THE SENATE OF THE UNITED STATES 

JUNE 23, 2020 

Mr. CORNYN (for himself, Mr. BARRASSO, Mr. CRAMER, Ms. MURKOWSKI, Mr. 

INHOFE, Mrs. HYDE-SMITH, Mr. CASSIDY, Mr. LANKFORD, Mrs. CAPITO, 

Mr. WICKER, and Mr. KENNEDY) introduced the following bill; which was 

read twice and referred to the Committee on Finance 

A BILL 

To assist the American energy sector in retaining jobs during 

challenging economic times. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Save American Vital 

5 Energy Jobs Act’’ or the ‘‘SAVE Jobs Act’’. 


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1 SEC. 2. EXTENSION OF PERIOD TO BEGIN CONSTRUCTION 

2 OF QUALIFIED FACILITIES FOR CARBON 

3 OXIDE SEQUESTRATION CREDIT. 

4 Section 45Q(d)(1) of the Internal Revenue Code of 

5 1986 is amended by striking ‘‘January 1, 2024’’ and in6 serting ‘‘January 1, 2025’’. 

7 SEC. 3. TEMPORARY SUSPENSION OF RULES FOR CAPITAL8 IZATION AND INCLUSION IN INVENTORY 

9 COSTS OF CERTAIN EXPENSES FOR SPECI10 FIED ENTITIES. 

11 (a) IN GENERAL.—Section 263A(a) of the Internal 

12 Revenue Code of 1986 is amended by adding at the end 

13 the following: 

14 ‘‘(3) TEMPORARY RELIEF FOR SPECIFIED ENTI15 TIES.— 

16 ‘‘(A) IN GENERAL.—In the case of any 

17 taxpayer which is assigned North American In18 dustry Classification System code 213111, at 

19 the election of such taxpayer, this section shall 

20 not apply with respect to any costs paid or in21 curred by such taxpayer which are described in 

22 paragraph (2). 

23 ‘‘(B) TERMINATION.—This paragraph 

24 shall not apply to costs paid or incurred after 

25 December 31, 2020.’’. 


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1 (b) EFFECTIVE DATE.—The amendment made by 

2 this section shall apply to costs paid or incurred after De3 cember 31, 2019. 

4 SEC. 4. REDUCTION OF DEPOSIT REQUIRED FOR CERTAIN 

5 EXCISE TAXES. 

6 (a) IN GENERAL.—If any person is required under 

7 section 6302 of the Internal Revenue Code of 1986 to 

8 make any deposit of taxes imposed under part III of sub9 chapter A of chapter 32 of such Code which is due after 

10 the date of enactment of this Act and before January 1, 

11 2021, such person shall be required to make such deposit 

12 in an amount which is equal to 25 percent of the amount 

13 which would otherwise be required under section 6302 of 

14 such Code with respect to such taxes (as determined with15 out regard to this subsection). 

16 (b) TRANSFERS TO TRUST FUNDS.—For purposes of 

17 any appropriation required to be made to any trust fund 

18 under subchapter A of chapter 98 of the Internal Revenue 

19 Code of 1986 which is based on the amount of any taxes 

20 received in the Treasury under part III of subchapter A 

21 of chapter 32 of such Code, such amount shall be deter22 mined as if subsection (a) did not apply. 


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1 SEC. 5. TEMPORARY RELIEF FOR DEDUCTIONS RELATED 

2 TO INTANGIBLE DRILLING COSTS. 

3 Section 291(b) of the Internal Revenue Code of 1986 

4 is amended by adding at the end the following new para5 graph: 

6 ‘‘(6) TEMPORARY RELIEF FOR DEDUCTIONS RE7 LATED TO INTANGIBLE DRILLING COSTS.—At the 

8 election of the taxpayer, subparagraph (A) of para9 graph (1) shall not apply with respect to costs paid 

10 or incurred after December 31, 2019, and before 

11 January 1, 2021.’’. 

12 SEC. 6. AUTHORITY TO EXTEND AND SUSPEND PRODUC13 TION AND OPERATIONS UNDER ONSHORE 

14 AND OFFSHORE LEASES. 

15 (a) IN GENERAL.—Notwithstanding any other provi16 sion of law and subject to subsection (b), with respect to 

17 a lease held under the Mineral Leasing Act (30 U.S.C. 

18 181 et seq.), the Naval Petroleum Reserves Production 

19 Act of 1976 (42 U.S.C. 6501 et seq.), or the Outer Conti20 nental Shelf Lands Act (43 U.S.C. 1331 et seq.), on the 

21 request of the leaseholder, the Secretary of the Interior 

22 (referred to in this section as the ‘‘Secretary’’) shall 

23 grant— 

24 (1) an extension of the primary term of the 

25 lease; 


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1 (2) a suspension of production under the lease; 

2 or 

3 (3) a suspension of operations under the lease. 

4 (b) REQUIREMENT.—An extension or suspension 

5 granted under subsection (a) shall only be effective if the 

6 Secretary grants the extension or suspension during the 

7 period of the national emergency declared by the President 

8 under the National Emergencies Act (50 U.S.C. 1601 et 

9 seq.) with respect to the Coronavirus Disease 2019 

10 (COVID–19). 

11 (c) ADMINISTRATION.—A leaseholder desiring an ex12 tension or suspension under subsection (a)— 

13 (1) shall not be required to submit an applica14 tion; but 

15 (2) shall submit to the Secretary a list of leases 

16 for which the leaseholder is requesting an extension 

17 or suspension. 

18 (d) DURATION.— 

19 (1) IN GENERAL.—Subject to paragraph (2), 

20 the Secretary shall determine the duration of an ex21 tension or suspension granted under subsection (a). 

22 (2) REQUIREMENT.—The duration of an exten23 sion or suspension determined by the Secretary 

24 under paragraph (1) shall be at least 1 year, unless 

25 the leaseholder requests a shorter duration. 


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1 SEC. 7. ROYALTY REDUCTION FOR ONSHORE AND OFF2 SHORE LEASES. 

3 (a) IN GENERAL.—Notwithstanding any other provi4 sion of law and subject to subsection (c), the Secretary 

5 of the Interior (referred to in this section as the ‘‘Sec6 retary’’) shall reduce the royalty rate for payments due 

7 and payable to the United States from oil, gas, minerals, 

8 coal, or trona produced under a lease held under the Min9 eral Leasing Act (30 U.S.C. 181 et seq.), the Naval Petro10 leum Reserves Production Act of 1976 (42 U.S.C. 6501 

11 et seq.), or the Outer Continental Shelf Lands Act (43 

12 U.S.C. 1331 et seq.) for a period of not more than 180 

13 days. 

14 (b) EXTENSION.—The Secretary may grant an exten15 sion of the 180-day period described in subsection (a) if 

16 determined appropriate by the Secretary. 

17 (c) REQUIREMENT.—A royalty reduction granted 

18 under subsection (a) shall only be effective if the Secretary 

19 grants the royalty reduction during the period of the na20 tional emergency declared by the President under the Na21 tional Emergencies Act (50 U.S.C. 1601 et seq.) with re22 spect to the Coronavirus Disease 2019 (COVID–19). 

23 SEC. 8. DELAYED IMPLEMENTATION OF VALUATION. 

24 The Secretary of the Interior shall delay the effective 

25 date by which compliance is required with the final rule 

26 entitled ‘‘Consolidated Federal Oil & Gas and Federal & 


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1 Indian Coal Valuation Reform’’ (81 Fed. Reg. 43338 

2 (July 1, 2016)) until July 1, 2022. 

Æ 


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