H J Res 44 MTR

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MOTION

TO

RECOMMIT H. J. RES. 44
BY

OFFERED

Ml. llllll

Ml. llllllllllll moves to recommit the joint resolution H. J. Res. 44 to the Committee on Appropriations with instructions to report the same back to the House forthwith with the following amendments: Page 18, line 21, strike the quotation marks and final period. Page 18, after line 21, insert the following: 1 ‘‘SEC. 227. For the period beginning on the date of

2 the enactment of the Further Continuing Appropriations 3 Amendments, 2011 and ending on the date specified in 4 section 106(3) of this Act, no major integrated oil com5 pany (as defined in section 167(h)(5)(B) of the Internal 6 Revenue Code of 1986) shall be eligible for any tax benefit 7 or relief under the following provisions of such Code to 8 the extent attributable to such period: 9 10 11 12 ‘‘(1) Section 43. ‘‘(2) Section 45I. ‘‘(3) Section 469 with respect to working interests in oil and gas property.
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2 1 2 3 4 ‘‘(4) Sections 613 and 613A, with respect to percentage depletion for oil and gas. ‘‘(5) Section 199 with respect to income derived from the production of oil and gas.

5 For purposes of this section, the amount of any tax benefit 6 or relief for any taxable year shall be treated as attrib7 utable to the period described in the preceding sentence 8 in the same ratio that the portion of such period which 9 is part of such taxable year bears to the entire taxable 10 year.’’.

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