Mayflower Oil Spill Tax Relief Act of 2013

Bill: 113-hr-2724
Sponsor: full_name: Rep. Griffin, Tim [R-AR-2]
Introduced: 2013-07-18
Policy area: Taxation
Subjects: Accidents

Arkansas

Disaster relief and insurance

Income tax exclusion

Oil and gas

Pipelines

Pollution liability
Latest action: action_date: 2013-07-18
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2013-07-18
action_desc: Introduced in House
text: <p>Mayflower Oil Spill Tax Relief Act of 2013 - Excludes from gross income, for income tax purposes, any compensation provided to or for the benefit of a victim of the pipeline rupture and oil spill in Mayflower, Arkansas, on March 29, 2013.</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 2724 IN THE HOUSE OF REPRESENTATIVES July 18, 2013 Mr. Griffin of Arkansas (for himself, Mr. Womack , Mr. Crawford , and Mr. Cotton ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To exclude from gross income compensation provided for victims of the March 29, 2013, pipeline oil spill in Mayflower, Arkansas.

1. Short title This Act may be cited as the Mayflower Oil Spill Tax Relief Act of 2013 . 2. Mayflower, Arkansas oil spill compensation excluded from gross income For purposes of the Internal Revenue Code of 1986— (1) the March 29, 2013, pipeline rupture and oil spill in Mayflower, Arkansas, shall be treated as a qualified disaster under section 139(c) of such Code, and (2) any compensation provided to or for the benefit of a victim of such disaster shall be treated as a qualified disaster relief payment under section 139(b) of such Code.