HR 2821 · 112th Congress · Taxation

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.

Introduced 2011-08-16· Sponsored by Rep. Palazzo, Steven M. [R-MS-4]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2011-08-30)

Plain Language Summary

[AI summary unavailable — showing source text] 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).…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (5)

1 Democrat4 Republicans
Rep. Miller, Jeff [R-FL-1]FL
Rep. Nunnelee, Alan [R-MS-1]MS
Rep. Bonner, Jo [R-AL-1]AL
Rep. Harper, Gregg [R-MS-3]MS
Rep. Richmond, Cedric L. [D-LA-2]LA