Mayflower Oil Spill Tax Relief Act of 2013

Mayflower Oil Spill Tax Relief Act of 2013 - Excludes from gross income, for income tax purposes, any compensation provided to or for the benefit of a victim of the pipeline rupture and oil spill in Mayflower, Arkansas, on March 29, 2013.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2724 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 2724

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


_______________________________________________________________________


                    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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

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

SEC. 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.
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