H.R. 2724

Mayflower Oil Spill Tax Relief Act of 2013

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I

113th CONGRESS

1st Session

H. R. 2724

IN THE HOUSE OF REPRESENTATIVES

July 18, 2013

Mr. Griffin of Arkansas (for himself, Mr. Womack, Mr. Crawford, and Mr. Cotton) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To exclude from gross income compensation provided for victims of the March 29, 2013, pipeline oil spill in Mayflower, Arkansas.

1.

Short title

This Act may be cited as the Mayflower Oil Spill Tax Relief Act of 2013.

2.

Mayflower, Arkansas oil spill compensation excluded from gross income

For purposes of the Internal Revenue Code of 1986—

(1)

the March 29, 2013, pipeline rupture and oil spill in Mayflower, Arkansas, shall be treated as a qualified disaster under section 139(c) of such Code, and

(2)

any compensation provided to or for the benefit of a victim of such disaster shall be treated as a qualified disaster relief payment under section 139(b) of such Code.