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S.Amdt. 2609Senate109th Congress (2005-2007)

To repeal certain tax benefits relating to oil and gas wells intangible drilling and development costs.

Sponsored by Dianne FeinsteinSen. Dianne Feinstein (D-CA)
Submitted November 17, 2005

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Senate amendment submitted

November 17, 2005

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Senate amendment submitted

November 17, 2005

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Roll call votes on amendments in Senate: Motion to waive the Budget Act with respect to amendment SA 2609 rejected in Senate by Yea-Nay Vote. 48 - 51. Record Vote Number: 332.

November 17, 2005

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Senate amendment proposed (on the floor): Amendment SA 2609 proposed by Senator Feinstein.

November 17, 2005

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Amendment SA 2609 proposed by Senator Feinstein. (consideration: CR S13081-13085, S13102; text: CR S13082) To repeal certain tax benefits relating to oil and gas wells intangible drilling and development costs.

November 17, 2005

Floor

Point of order raised in Senate with respect to amendment SA 2609.

November 17, 2005

Floor

Motion to waive the Budget Act with respect to amendment SA 2609 rejected in Senate by Yea-Nay Vote. 48 - 51. Record Vote Number: 332.

November 17, 2005

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Amendment SA 2609 ruled out of order by the chair.

November 17, 2005

Votes

1 roll call on this amendment

SENATE

Roll Call Available

November 17, 2005 at 4:09 PM

On the Motion (Motion to Waive CBA Re: Feinstein Amdt. No. 2609)

Majority required: 3/5 (60%)

Failed

48 - 51

Text

Submitted

Proposed · Nov 17, 2005Submitted · Nov 17, 2005
Formatted textPDF
SA 2609. Mrs. FEINSTEIN (for herself, Mr. Sununu, Mr. Gregg, Mr.
Wyden, Ms. Cantwell, Mr. Feingold, Mr. Burr, Mr. McCain, Mr. Kerry, Ms.
Collins, and Mrs. Clinton) proposed an amendment to the bill S. 2020,
to provide for reconciliation pursuant to

[[Page S13209]]

section 202(b) of the concurrent resolution on the budget for fiscal
year 2006; as follows:

At the end of title IV, add the following:

SEC. __. REPEAL OF CERTAIN TAX BENEFITS RELATING TO OIL AND
GAS WELLS INTANGIBLE DRILLING AND DEVELOPMENT
COSTS.

(a) In General.--Section 263(c) (relating to intangible
drilling and development costs) is amended by adding at the
end the following new sentence: ``This subsection shall not
apply with respect to wells (other than wells drilled for any
geothermal deposit (as so defined)) of any integrated oil
company (as defined in section 291(b)(4)) which has an
average daily worldwide production of crude oil of at least
500,000 barrels for the taxable year in any taxable year
beginning after December 31, 2005.''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2005.
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