H.R. 2821 (112th): 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:
Aug 16, 2011 (112th Congress, 2011–2013)
Sponsor:
Rep. Steven Palazzo [R-MS4]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on August 30, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Aug 16, 2011
Referred to Committee Aug 30, 2011
Cosponsors
5 cosponsors (4R, 1D) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Summary

No summaries available.

Text

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Last updated Aug 30, 2011.
2 pages

Primary Source

View on THOMAS (The Library of Congress)

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

8/16/2011--Introduced.
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).

House Republican Conference Summary

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