S.Amdt. 3780
What it does: Inserts new text on page 253, between lines 19 and 20
Sen. Barbara Boxer (D-CA)What it changes
1 change to H.R. 4939
Inserts new text on page 253, between lines 19 and 20
InsertsPrinted pageInserted: FUEL ASSISTANCE FROM OIL COMPANIES PROVIDING HIGH EMPLOYEE BONUS OR RETIREMENT PACKAGES
Inserted: Sec. 7___. (a) In this section, the term "large integrated oil company" means, with respect to any taxable year, an integrated oil company (as defined in section 291(b)(4) of the Internal Revenue Code of 1986) that--
Inserted: (1) has gross receipts in excess of $1,000,000 for the taxable year; and
Inserted: (2) has an average daily worldwide production of crude oil of at least 500,000 barrels for the taxable year.
Inserted: (b) Notwithstanding any other provision of law, if a large integrated oil company provides to an offer or employee of the large integrated oil company a salary bonus or retirement package of more than $50,000,000, the large integrated oil company shall pay an equal amount into the Low Income Home Energy Assistance Program.
Original wording
On page 253, between lines 19 and 20, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 3780. Mrs. BOXER submitted an amendment intended to be proposed by her to the bill H.R. 4939, making emergency supplemental appropriations for the fiscal year ending September 30, 2006, and for other purposes; which was ordered to lie on the table; as follows:
On page 253, between lines 19 and 20, insert the following:
FUEL ASSISTANCE FROM OIL COMPANIES PROVIDING HIGH EMPLOYEE BONUS OR RETIREMENT PACKAGES
Sec. 7___. (a) In this section, the term “large integrated oil company” means, with respect to any taxable year, an integrated oil company (as defined in section 291(b)(4) of the Internal Revenue Code of 1986) that--
(1) has gross receipts in excess of $1,000,000 for the taxable year; and
(2) has an average daily worldwide production of crude oil of at least 500,000 barrels for the taxable year.
(b) Notwithstanding any other provision of law, if a large integrated oil company provides to an offer or employee of the large integrated oil company a salary bonus or retirement package of more than $50,000,000, the large integrated oil company shall pay an equal amount into the Low Income Home Energy Assistance Program.
Legislative Activity
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Senate amendment submitted
May 1, 2006