S. 983 · 112th Congress

A bill to amend the Internal Revenue Code of 1986 to disallow a deduction for amounts paid or incurred by a responsible party relating to a discharge of oil.

Stage
In committee
Introduced
2011-05-12
Latest action
2011-05-12 · Introduced in Senate

Summary

Amends the Internal Revenue Code to deny a tax deduction for business-related expenses paid or incurred by a responsible party relating to an incident resulting in the discharge of oil into the navigable waters, other than an incident caused by an act of God or an act of war.