,,ii  #aai? ,,congress  #b;d ,session   
,s4 #eefi  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #bh1         
#bjbf,mr4 ,s*iff introduc$ ! foll[+     
bill2 :i* 0 read twice & ref]r$ to !    
,committee on ,f9ance  ,a ,,bill  ,to   
am5d ! ,int]nal ,rev5ue ,code ( #aihf to
 impose a fee on excess oil pr(its4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,oil ,company ,w9dfall ,pr(its ,tax ,act
 ( #bjbf4  #b4 ,excess oil pr(it fee    
7a7 ,9 g5]al ,subtitle ,e ( ! ,int]nal  
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end !re( ! foll[+ new *apt]3  #ef  
,fee on excess oil pr(it  ,sec4 #ehif4  
,imposition ( fee4,sec4 #ehig4 ,excess  
pr(it2 etc4,sec4 #ehih4 ,special rules &
 def9itions4  #ehif4 ,imposition ( fee  
7a7 ,9 g5]al ,9 addition to any o!r tax 
impos$ "u ?is title1 !re is h]eby impos$
 on any applicable taxpay] an excise fee
 9 an am\nt equal to #ej p]c5t ( !      
excess pr(it ( su* taxpay] = any taxable
 ye> beg9n+ aft] ,decemb] #ca1 #bjbe4   
7b7 ,applicable taxpay] ,= purposes (   

?is *apt]1 ! t]m applicable taxpay]     
means any integrat$ oil company 7z def9$
 9 section #bia7;b77#d774  #ehig4       
,excess pr(it2 etc  7a7 ,g5]al rule ,=  
purposes ( ?is *apt]1 ! t]m excess pr(it
 means ! excess ( ! adju/$ taxable      
income ( ! applicable taxpay] = !       
taxable ye> ov] ! reasonably inflat$    
av]age pr(it = su* taxable ye>4  7b7    
,adju/$ taxable income ,= purposes ( ?is
 *apt]1 ) respect to any applicable     
taxpay]1 ! adju/$ taxable income = any  
taxable ye> is equal to ! taxable income
 = su* taxable ye> 7)9 ! mean+ ( section
 #fc & det]m9$ )\t reg>d to ?is         
subsection7 increas$ by any int]e/      
exp5se d$uction1 *>itable contribution  
d$uction1 & any net op]at+ loss d$uction
 c>ri$ =w>d f any prior taxable ye>4 ,9 
! case ( any applicable taxpay] :i* is a
 =eign corporation1 ! adju/$ taxable    
income %all be det]m9$ ) respect to su* 
income :i* is effectively connect$ ) !  
conduct ( a trade or bus9ess 9 ! ,unit$ 
,/ates4  7c7 ,reasonably inflat$ av]age 

pr(it ,= purposes ( ?is *apt]1 ) respect
 to any applicable taxpay]1 ! reasonably
 inflat$ av]age pr(it = any taxable ye> 
is an am\nt equal to-- 7#a7 ! av]age ( !
 adju/$ taxable income ( su* taxpay]    
dur+ ! #e-taxable-ye> p]iod beg9n+ ) !  
fir/ taxable ye> beg9n+ aft] ,decemb]   
#ca1 #bjbj1 z det]m9$ )\t reg>d to !    
taxable ye> ) ! highe/ adju/$ taxable   
income 9 su* p]iod1 plus  7#b7 an am\nt 
equal to #aj p]c5t ( ! am\nt det]m9$ "u 
p>agraph 7#a74  #ehih4 ,special rules & 
def9itions  7a7 ,)hold+ & deposit ( fee 
,! ,secret>y %all provide su* rules z   
are necess>y = ! )hold+ & deposit ( !   
fee impos$ "u section #ehif4  7b7       
,records & in=mation ,ea* taxpay] liable
 = tax "u section #ehif %all keep su*   
records1 make su* returns1 & furni% su* 
in=mation z ! ,secret>y may by          
regulations prescribe4  7c7 ,return (   
fee ,! ,secret>y %all provide = ! fil+ &
 ! "t ( su* fil+ ( ! return ( ! fee     
impos$ "u section #ehif4  7d7 ,bus9esses
 "u common control ,= purposes ( ?is    

*apt]1 all memb]s ( ! same controll$    
gr\p ( corporations 7)9 ! mean+ (       
section #bfg7;f77 & all p]sons "u common
 control 7)9 ! mean+ ( section #eb7;b7 b
 det]m9$ by treat+ an int]e/ ( m ?an #ej
 p]c5t z a controll+ int]e/7 %all be    
treat$ z #a p]son4  7e7 ,regulations ,! 
,secret>y %all prescribe su* regulations
 z may be necess>y or appropriate to    
c>ry out ! purposes ( ?is *apt]4  4  7b7
 ,transf] ( rev5ue to ,highway ,tru/    
,fund ,section #iejc ( ! ,int]nal       
,rev5ue ,code ( #aihf is am5d$-- 7#a7 9 
subsection 7b7-- 7,a7 9 ! head+1 by     
ins]t+ 1 fees1 aft] taxes1  7,b7 9      
p>agraph 7#a7-- 7i7 9 ! head+1 by ins]t+
 & fees aft] taxes1  7ii7 9 ! matt]     
prec$+ subp>agraph 7,a71 by ins]t+ &    
fees aft] ! taxes1  7iii7 9 subp>agraph 
7,d71 by /rik+ & at ! end1  7iv7 9      
subp>agraph 7,e71 by /rik+ ! p]iod at ! 
end & ins]t+ 1 &1 &  7v7 by ins]t+ aft] 
subp>agraph 7,e7 ! foll[+ new           
subp>agraph3  7,f7 section #ehif 7relat+
 to fee on excess oil pr(it74  1 &  7,c7

 9 p>agraph 7#d7-- 7i7 9 ! head+1 by    
ins]t+ & fees aft] taxes1  7ii7 9 !     
matt] prec$+ subp>agraph 7,a71 by ins]t+
 & fees aft] ! taxes1  7iii7 9          
subp>agraph 7,c71 by /rik+ or at ! end1 
7iv7 9 subp>agraph 7,d77iii71 by /rik+ !
 p]iod at ! end & ins]t+ 1 or1 &  7v7 by
 ins]t+ aft] subp>agraph 7,d7 ! foll[+  
new subp>agraph3  7,e7 section #ehif )  
respect to an am\nt equal to #j4edce    
p]c5t ( su* fee4  1 &  7#b7 9 subsection
 7e7-- 7,a7 9 p>agraph 7#b71 by /rik+ ,!
 ,secret>y ( ! ,treasury & ins]t+       
,subject to p>agraph 7#f71 ! ,secret>y (
 ! ,treasury1  7,b7 9 p>agraph 7#e71 by 
/rik+ ! application ( p>agraph 7#b7 &   
ins]t+ ! application ( p>agraphs 7#b7 & 
7#f71 &  7,c7 by add+ at ! end ! foll[+ 
new p>agraph3  7#f7 ,additional transf] 
to ,mass ,transit ,acc\nt ,9 addition to
 ! transf] describ$ 9 p>agraph 7#b71 !  
,secret>y ( ! ,treasury %all transf] to 
! ,mass ,transit ,acc\nt an am\nt equal 
to #ae4fc p]c5t ( ! am\nts appropriat$  
to ! ,highway ,tru/ ,fund "u subsection 

7b7 :i* 7aft] ! application ( p>agraph  
7#d77;,e7 ( su* subsection7 are         
attributable to fees "u section #ehif4  
4  7c7 ,transf] ( rev5ue to ,leak+      
,und]gr\nd ,/orage ,tank ,tru/ ,fund    
,section #iejh7;b7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$-- 7#a7 9 p>agraph
 7#c71 by /rik+ & at ! end1  7#b7 9     
p>agraph 7#d71 by /rik+ ! p]iod at ! end
 & ins]t+ 1 &1 &  7#c7 by ins]t+ aft]   
p>agraph 7#d7 ! foll[+ new p>agraph3    
7#e7 fees receiv$ 9 ! ,treasury "u #ehif
 7relat+ to fee on excess oil pr(it7 9  
an am\nt equal to #j4edce p]c5t ( su*   
fee4  4  7d7 ,cl]ical am5dm5t ,! table (
 *apt]s = subtitle ,e ( su* ,code is    
am5d$ by add+ at ! end ! foll[+ new     
item3  ,*apt] #ef--;,fee on excess oil  
pr(it  4  7e7 ,d$uctibility ( fee ,!    
fir/ s5t5ce ( section #afd7;a7 ( su*    
,code is am5d$ by ins]t+ aft] p>agraph  
7#d7 ! foll[+ new p>agraph3  7#e7 ,! fee
 impos$ by section #ehif4  4