To exclude from gross income compensation provided by BP, PLC for victims of the explosion on and sinking of the mobile offshore drilling unit Deepwater Horizon and the discharge of oil in the Gulf of Mexico caused by such explosion and sinking, and for other purposes.
Oil Spill Tax Relief Act of 2010 - Treats as a qualified disaster for income tax purposes the explosion on and sinking of the mobile offshore drilling unit Deepwater Horizon and the discharge of oil in the Gulf of Mexico caused by such explosion and sinking. Excludes from gross income, for income tax purposes, compensation paid by BP, PLC to the victims of such disaster.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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