,i #aac? ,,congress #b;d ,session ,h4 ,r4 #dgec ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,may #bh1 #bjad ,mr4 ,mc,dermott 7= himself1 ,mr4 ,waxman1 ,mr4 ,l>son ( ,connecticut1 ,mr4 ,blum5au]1 & ,mr4 ,pascrell7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide inc5tives = clean en]gy & to repeal fossil fuel subsidies = big oil companies4 #a4 ,%ort title2 table ( cont5ts 7a7 ,%ort title ,?is ,act may be cit$ z ! ,inve/+ to ,mod]nize ! ,production ( ,am]ican ,clean ,en]gy & ,te*nology ,act ( #bjad or z ! ,,impact ,act ( #bjad4 7b7 ,table ( cont5ts ,! table ( cont5ts ( ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 table ( cont5ts4 ,title ,i--,clean en]gy inc5tives ,subtitle ,a--,r5ewable en]gy ,sec4 #aja4 ,ext5sion ( r5ewable en]gy cr$its4 ,sec4 #ajb4 ,ext5sion ( election ( inve/m5t tax cr$it 9 lieu ( production cr$it4 ,sec4 #ajc4 ,ext5sion ( qualify+ advanc$ en]gy project cr$it4 ,sec4 #ajd4 ,ext5sion ( cr$it = en]gy-effici5t new homes4 ,sec4 #aje4 ,ext5sion ( cr$it = en]gy-effici5t appliances4 ,subtitle ,b--,electric1 natural gas1 & hydrog5 vehicles ,sec4 #aaa4 ,increase & expansion ( cr$it = qualifi$ plug-9 electric drive motor vehicles4 ,sec4 #aab4 ,ext5sion ( new qualifi$ alt]native fuel motor vehicle cr$it = heavy natural gas vehicles4 ,sec4 #aac4 ,modification ( cr$it = alt]native fuel vehicle refuel+ prop]ty = vehicles p[]$ by electricity1 natural gas1 or hydrog54 ,sec4 #aad4 ,electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty tax cr$it bonds4 ,title ,,ii--,repeal ( fossil fuel subsidies = big oil companies ,sec4 #bja4 ,prohibition on us+ la/-91 fir/-out acc\nt+ = major integrat$ oil companies4 ,sec4 #bjb4 ,modifications ( =eign tax cr$it rules applicable to major integrat$ oil companies :i* are dual capacity taxpay]s4 ,sec4 #bjc4 ,limitation on section #aii d$uction attributable to oil1 natural gas1 or prim>y products !re(4 ,sec4 #bjd4 ,limitation on d$uction = intangible drill+ & developm5t co/s4 ,sec4 #bje4 ,limitation on p]c5tage depletion all[ance = oil & gas wells4 ,sec4 #bjf4 ,limitation on d$uction = t]ti>y injectants4 ,i ,clean en]gy inc5tives ,a ,r5ewable en]gy #aja4 ,ext5sion ( r5ewable en]gy cr$its 7a7 ,w9d1 biomass1 geo!rmal1 small irrigation1 l&fill gas1 hydrop[]1 m>9e1 & hydrok9etic ,ea* ( ! foll[+ provisions ( section #de7;d7 ( su* ,code is am5d$ by /rik+ ,janu>y #a1 #bjad ea* place x appe>s & ins]t+ ,janu>y #a1 #bjbd3 7#a7 ,p>agraph 7#a74 7#b7 ,clauses 7i7 & 7ii7 ( p>agraph 7#b77;,a74 7#c7 ,clauses 7i77,i7 & 7ii7 ( p>agraph 7#c77;,a74 7#d7 ,p>agraph 7#d74 7#e7 ,p>agraph 7#f74 7#f7 ,subp>agraphs 7,a7 & 7,c7 ( p>agraph 7#i74 7#g7 ,subp>agraph 7,b7 ( p>agraph 7#aa74 7b7 ,e>ly t]m9ation 9 ev5t ( ,f$]al r5ewable electricity requirem5t ,subsection 7d7 ( section #de ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#ab7 ,t]m9ation 9 ev5t ( ,f$]al r5ewable electricity requirem5t ,not)/&+ any o!r provision ( ?is section1 ! t]m qualifi$ facility %all n include any prop]ty :i* is plac$ 9 s]vice aft] ! date :i* is #a ye> aft] ! date on :i* ! ,secret>y ( ,en]gy makes a public decl>ation t a ,f$]al law is 9 effect :i* requires retail electric suppli]s 9 ! ,unit$ ,/ates to supply m9imum & significant am\nts ( electric en]gy :i* is g5]at$ f r5ewable s\rces to cu/om]s = purposes o!r ?an resale4 4 #ajb4 ,ext5sion ( election ( inve/m5t tax cr$it 9 lieu ( production cr$it 7a7 ,9 g5]al ,clause 7ii7 ( section #dh7;a77#e77;,c7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ ,janu>y #a1 #bjad & ins]t+ ,janu>y #a1 #bjbd4 7b7 ,limitation ,p>agraph 7#e7 ( section #dh7;a7 ( su* ,code is am5d$ by add+ at ! end ! foll[+ new subp>agraphs3 7,e7 ,limitation ,9 ! case ( a qualify+ (f%ore w9d facility to :i* ?is p>agraph applies & ! total megawatt nameplate capacity ( :i* exce$s #c1jjj megawatts1 ! basis :i* w\ld 7b = ?is subp>agraph7 be tak5 into acc\nt "u subsection 7a7 ) respect to su* facility %all n exce$ ! am\nt :i* be>s ! same ratio to su* basis z-- 7i7 #cjjj megawatts1 be>s to 7ii7 ! total megawatt nameplate capacity ( su* facility4 7,f7 ,qualify+ (f%ore w9d facility ,= purposes ( ?is p>agraph-- 7i7 ,9 g5]al ,! t]m qualify+ (f%ore w9d facility means an (f%ore facility us+ w9d to produce electricity4 7ii7 ,(f%ore facility ,! t]m (f%ore facility means any facility locat$ 9 ! inl& navigable wat]s ( ! ,unit$ ,/ates1 includ+ ! ,great ,lakes1 or 9 ! coa/al wat]s ( ! ,unit$ ,/ates1 includ+ ! t]ritorial seas ( ! ,unit$ ,/ates1 ! exclusive economic zone ( ! ,unit$ ,/ates1 & ! ,out] ,cont95tal ,%elf ( ! ,unit$ ,/ates4 ,= purposes ( ! prec$+ s5t5ce1 ! t]m ,unit$ ,/ates has ! mean+ giv5 9 section #fch7a74 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to facilities plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #ajc4 ,ext5sion ( qualify+ advanc$ en]gy project cr$it ,p>agraph 7#a7 ( section #dh;,c7d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,c7 ,additional limitation am\nt 7i7 ,9 g5]al ,! total am\nt ( cr$its t may be allocat$ "u ! program %all be increas$ by #e1jjj1jjj1jjj4 7ii7 ,applications ,not)/&+ ! deadl9e = submitt+ applications specifi$ 9 p>agraph 7#b77;,a71 an applicant = c]tification ) respect to cr$its allocat$ pursuant to clause 7i7 may submit an application to ! ,secret>y at su* "t & 9 su* mann] z ! ,secret>y may provide4 7iii7 ,review1 r$i/ribution1 & reallocation ,not)/&+ ! deadl9e = review specifi$ 9 p>agraph 7#d77;,a71 ! ,secret>y %all review ! cr$its allocat$ pursuant to clause 7i7 at su* "t z ! ,secret>y det]m9es appropriate4 4 #ajd4 ,ext5sion ( cr$it = en]gy-effici5t new homes 7a7 ,9 g5]al ,subsection 7g7 ( section #de,l ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ ,decemb] #ca1 #bjac & ins]t+ ,decemb] #ca1 #bjaf4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to homes acquir$ aft] ,decemb] #ca1 #bjac4 #aje4 ,ext5sion ( cr$it = en]gy-effici5t appliances 7a7 ,9 g5]al ,section #de,m7b7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ or #bjac ea* place x appe>s & ins]t+ #bjac1 #bjad1 #bjae1 or #bjaf4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to appliances produc$ aft] ,decemb] #ca1 #bjac4 ,b ,electric1 natural gas1 & hydrog5 vehicles #aaa4 ,increase & expansion ( cr$it = qualifi$ plug-9 electric drive motor vehicles 7a7 ,increase 9 doll> limitation ,p>agraph 7#b7 ( section #cj;,d7b7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ #b1ejj & ins]t+ #e1jjj4 7b7 ,increase 9 limitation on numb] ( vehicles eligible = cr$it ,p>agraph 7#b7 ( section #cj;,d7e7 ( su* ,code is am5d$ by /rik+ #bjj1jjj & ins]t+ #djj1jjj4 7c7 ,effective date ,! am5dm5t made by ?is section %all apply to vehicles acquir$ aft] ! date ( ! enactm5t ( ?is ,act4 #aab4 ,ext5sion ( new qualifi$ alt]native fuel motor vehicle cr$it = heavy natural gas vehicles 7a7 ,9 g5]al ,p>agraph 7#d7 ( section #cj;,b7k7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ 7,decemb] #ca1 #bjah1 9 ! case ( a vehicle p[]$ by compress$ or liquefi$ natural gas & weigh+ m ?an #h1ejj p\nds7 be=e ! p]iod at ! end4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to vehicles pur*as$ aft] ! date ( ! enactm5t ( ?is ,act4 #aac4 ,modification ( cr$it = alt]native fuel vehicle refuel+ prop]ty = vehicles p[]$ by electricity1 natural gas1 or hydrog5 7a7 ,special ,rules = ,prop]ty ,plac$ 9 ,s]vice ,be=e ,janu>y #a1 #bjba ,subsection 7e7 ( section #cj;,c ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#g7 ,prop]ty = re*>g+ vehicles p[]$ by electricity1 natural gas1 or hydrog5 ,9 ! case ( prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac1 & be=e ,janu>y #a1 #bjba1 :i* relates to electricity1 natural gas1 or hydrog5-- 7,a7 subsection 7a7 %all be appli$ by sub/itut+ #ej p]c5t = #cj p]c5t1 7,b7 subsection 7b77#a7 %all be appli$ by sub/itut+ #ej1jjj = #cj1jjj1 & 7,c7 subsection 7b77#b7 %all be appli$ by sub/itut+ #b1jjj = #a1jjj4 4 7b7 ,in/allation ,co/s ,subsection 7e7 ( section #cj;,c ( su* ,code1 z am5d$ by subsection 7a71 is am5d$ by add+ at ! end ! foll[+3 7#h7 ,in/allation co/s ,! co/ ( any qualifi$ alt]native fuel vehicle refuel+ prop]ty :i* relates to electricity1 natural gas1 or hydrog5 %all include ! co/ ( ! orig9al in/allation ( su* prop]ty4 4 7c7 ,t]m9ation ( ,cr$it ,p>agraph 7#a7 ( section #cj;,c7g7 ( su* ,code is am5d$ to read z foll[s3 7#a7 9 ! case ( prop]ty relat+ to electricity1 natural gas1 or hydrog51 aft] ,decemb] #ca1 #bjbj1 & 4 7d7 ,effective ,date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjac4 #aad4 ,electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty tax cr$it bonds 7a7 ,9 ,g5]al ,p>agraph 7#a7 ( section #ed;,a7d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ or at ! end ( subp>agraph 7,d71 by ins]t+ or at ! end ( subp>agraph 7,e71 & by ins]t+ aft] subp>agraph 7,e7 ! foll[+ new subp>agraph3 7,f7 a qualifi$ electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty bond1 4 7b7 ,qualifi$ ,purpose ,subp>agraph 7,c7 ( section #ed;,a7d77#b7 ( su* ,code is am5d$ by /rik+ & at ! end ( clause 7iv71 by /rik+ ! p]iod at ! end ( clause 7v7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new clause3 7vi7 9 ! case ( a qualifi$ electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty bond1 a purpose specifi$ 9 section #ed;,g7a77#a74 4 7c7 ,bonds ,all[$ ,subp>t ,i ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( su* ,code is am5d$ by add+ at ! end ! foll[+ new section3 #ed;,g4 ,qualifi$ electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty bonds 7a7 ,qualifi$ ,electric1 ,natural ,gas1 & ,hydrog5 ,vehicle ,refuel+ ,prop]ty ,bond ,= purposes ( ?is subp>t1 ! t]m qualifi$ electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty bond means any bond issu$ z "p ( an issue if-- 7#a7 #ajj p]c5t ( ! available project proce$s ( su* issue are to be us$ = capital exp5ditures incurr$ by a qualifi$ issu] = #a or m qualifi$ electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ties1 7#b7 ! bond is issu$ by a qualifi$ issu]1 & 7#c7 ! issu] designates su* bond = purposes ( ?is section4 7b7 ,r$uc$ ,cr$it ,am\nt ,not)/&+ p>agraph 7#b7 ( section #ed;,a7b71 ! annual cr$it det]m9$ ) respect to any qualifi$ electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty bond is #gj p]c5t ( ! am\nt :i* w\ld 7b = ?is subsection7 o!rwise be det]m9$ "u su* p>agraph ) respect to su* bond4 7c7 ,limitation on ,am\nt ( ,bonds ,designat$ ,! maximum aggregate face am\nt ( bonds :i* may be designat$ "u subsection 7a7 by any issu] %all n exce$ ! limitation am\nt allocat$ to su* issu] "u subsection 7e74 7d7 ,national ,limitation on ,am\nt ( ,bonds ,designat$ ,!re is a national qualifi$ electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty bond limitation ( #gej1jjj1jjj4 7e7 ,allocations ,! ,secret>y %all make allocations ( ! am\nt ( ! national qualifi$ electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty bond limitation describ$ 9 subsection 7d7 among purposes describ$ 9 subsection 7a77#a7 9 su* mann] z ! ,secret>y det]m9es appropriate4 7f7 ,def9itions ,= purposes ( ?is section-- 7#a7 ,qualifi$ electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty ,! t]m qualifi$ electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty means any qualifi$ alt]native fuel vehicle refuel+ prop]ty 7)9 ! mean+ ( section #cj;,c7 :i* relates to electricity1 natural gas1 or hydrog54 7#b7 ,qualifi$ issu] 7,a7 ,9 g5]al ,! t]m qualifi$ issu] means a public p[] provid]1 a coop]ative electric company1 or a gov]nm5tal body4 7,b7 ,gov]nm5tal body ,! t]m gov]nm5tal body means any ,/ate or ,indian tribal gov]nm5t1 or any political subdivision !re(4 7,c7 ,public p[] provid] ,! t]m public p[] provid] means a ,/ate utility t has a s]vice obligation to end-us]s or to a di/ribution utility 7)9 ! mean+ ( section #bag ( ! ,f$]al ,p[] ,act1 z 9 effect on ! date ( ! enactm5t ( ?is section74 7,d7 ,coop]ative electric company ,! t]m coop]ative electric company means a mutual or coop]ative electric company describ$ 9 section #eja7;c77#ab7 or an organization describ$ 9 section #acha7;a77#b77;,c74 4 7d7 ,cl]ical ,am5dm5t ,! table ( sections = subp>t ,i ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #ed;,g4 ,qualifi$ electric1 natural gas1 & hydrog5 vehicle refuel+ prop]ty bonds4 4 7e7 ,effective ,date ,! am5dm5ts made by ?is section %all apply to obligations issu$ aft] ! date ( ! enactm5t ( ?is ,act4 ,,ii ,repeal ( fossil fuel subsidies = big oil companies #bja4 ,prohibition on us+ la/-91 fir/-out acc\nt+ = major integrat$ oil companies 7a7 ,9 g5]al ,section #dgb ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subsection3 7h7 ,major integrat$ oil companies ,not)/&+ any o!r provision ( ?is section1 a major integrat$ oil company 7z def9$ 9 section #afg7;h77#e77;,b77 may n use ! me?od provid$ 9 subsection 7b7 9 inv5tory+ ( any goods4 4 7b7 ,effective date & special rule 7#a7 ,9 g5]al ,! am5dm5t made by subsection 7a7 %all apply to taxable ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,*ange 9 me?od ( acc\nt+ ,9 ! case ( any taxpay] requir$ by ! am5dm5t made by ?is section to *ange its me?od ( acc\nt+ = its fir/ taxable ye> beg9n+ aft] ! date ( ! enactm5t ( ?is ,act-- 7,a7 su* *ange %all be treat$ z initiat$ by ! taxpay]1 7,b7 su* *ange %all be treat$ z made ) ! cons5t ( ! ,secret>y ( ! ,treasury1 & 7,c7 ! net am\nt ( ! adju/m5ts requir$ to be tak5 into acc\nt by ! taxpay] "u section #dha ( ! ,int]nal ,rev5ue ,code ( #aihf %all be tak5 into acc\nt ratably ov] a p]iod 7n great] ?an #h taxable ye>s7 beg9n+ ) su* fir/ taxable ye>4 #bjb4 ,modifications ( =eign tax cr$it rules applicable to major integrat$ oil companies :i* are dual capacity taxpay]s 7a7 ,9 g5]al ,section #ija ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by r$esignat+ subsection 7n7 z subsection 7o7 & by ins]t+ aft] subsection 7m7 ! foll[+ new subsection3 7n7 ,special rules relat+ to major integrat$ oil companies :i* are dual capacity taxpay]s 7#a7 ,g5]al rule ,not)/&+ any o!r provision ( ?is *apt]1 any am\nt paid or accru$ by a dual capacity taxpay] :i* is a major integrat$ oil company 7z def9$ 9 section #afg7;h77#e77;,b77 to a =eign c\ntry or possession ( ! ,unit$ ,/ates = any p]iod %all n be consid]$ a tax-- 7,a7 if1 = su* p]iod1 ! =eign c\ntry or possession does n impose a g5]ally applicable income tax1 or 7,b7 to ! ext5t su* am\nt exce$s ! am\nt 7det]m9$ 9 accordance ) regulations7 :i*-- 7i7 is paid by su* dual capacity taxpay] pursuant to ! g5]ally applicable income tax impos$ by ! c\ntry or possession1 or 7ii7 w\ld be paid if ! g5]ally applicable income tax impos$ by ! c\ntry or possession 7 applicable to su* dual capacity taxpay]4 ,no?+ 9 ?is p>agraph %all be con/ru$ to imply ! prop] treatm5t ( any su* am\nt n 9 excess ( ! am\nt det]m9$ "u subp>agraph 7,b74 7#b7 ,dual capacity taxpay] ,= purposes ( ?is subsection1 ! t]m dual capacity taxpay] means1 ) respect to any =eign c\ntry or possession ( ! ,unit$ ,/ates1 a p]son :o-- 7,a7 is subject to a levy ( su* c\ntry or possession1 & 7,b7 receives 7or w receive7 directly or indirectly a specific economic b5efit 7z det]m9$ 9 accordance ) regulations7 f su* c\ntry or possession4 7#c7 ,g5]ally applicable income tax ,= purposes ( ?is subsection-- 7,a7 ,9 g5]al ,! t]m g5]ally applicable income tax means an income tax 7or a s]ies ( income taxes7 :i* is g5]ally impos$ "u ! laws ( a =eign c\ntry or possession on income d]iv$ f ! conduct ( a trade or bus9ess )9 su* c\ntry or possession4 7,b7 ,exceptions ,su* t]m %all n include a tax unless x has sub/antial application1 by its t]ms & 9 practice1 to-- 7i7 p]sons :o are n dual capacity taxpay]s1 & 7ii7 p]sons :o are citiz5s or resid5ts ( ! =eign c\ntry or possession4 4 7b7 ,effective ,date 7#a7 ,9 g5]al ,! am5dm5ts made by ?is section %all apply to taxes paid or accru$ 9 taxable ye>s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,contr>y treaty obligations upheld ,! am5dm5ts made by ?is section %all n apply to ! ext5t contr>y to any treaty obligation ( ! ,unit$ ,/ates4 #bjc4 ,limitation on section #aii d$uction attributable to oil1 natural gas1 or prim>y products !re( 7a7 ,d5ial ( d$uction ,p>agraph 7#d7 ( section #aii7;c7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,e7 ,special rule = c]ta9 oil & gas income ,9 ! case ( any taxpay] :o is a major integrat$ oil company 7z def9$ 9 section #afg7;h77#e77;,b77 = ! taxable ye>1 ! t]m dome/ic production gross receipts %all n include gross receipts f ! production1 transportation1 or di/ribution ( oil1 natural gas1 or any prim>y product 7)9 ! mean+ ( subsection 7d77#i77 !re(4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #bjd4 ,limitation on d$uction = intangible drill+ & developm5t co/s 7a7 ,9 g5]al ,section #bfc7;c7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new s5t5ce3 ,?is subsection %all n apply to am\nts paid or incurr$ by a taxpay] 9 any taxable ye> 9 :i* su* taxpay] is a major integrat$ oil company 7z def9$ 9 section #afg7;h77#e77;,b7744 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to am\nts paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #bje4 ,limitation on p]c5tage depletion all[ance = oil & gas wells 7a7 ,9 g5]al ,section #fac;,a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subsection3 7f7 ,application ) respect to major integrat$ oil companies ,9 ! case ( any taxable ye> 9 :i* ! taxpay] is a major integrat$ oil company 7z def9$ 9 section #afg7;h77#e77;,b771 ! all[ance = p]c5tage depletion %all be z]o4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4 #bjf4 ,limitation on d$uction = t]ti>y injectants 7a7 ,9 g5]al ,section #aic ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subsection3 7d7 ,application ) respect to major integrat$ oil companies ,?is section %all n apply to am\nts paid or incurr$ by a taxpay] 9 any taxable ye> 9 :i* su* taxpay] is a major integrat$ oil company 7z def9$ 9 section #afg7;h77#e77;,b774 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to am\nts paid or incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjac4