S.Amdt. 3835

SA 3835. Mrs. BOXER submitted an amendment intended to be proposed to amendment SA 3700 submitted by Mr. Domenici (for himself, Mr. Grassley, and Mr. Stevens) and intended to be proposed 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:

At the appropriate place, 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 officer 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.