Oil Company Acquisition Moratorium Act

Oil Company Acquisition Moratorium Act - Amends the Internal Revenue Code to provide that for the time period between April 4 1984, and April 3, 1985: (1) no income tax deduction shall be allowed for interest paid on indebtedness incurred to acquire a major energy corporation; (2) purchases of stock in a major energy corporation shall be treated as a purchase of assets; (3) the acquisition of a major energy corporation shall not be treated as a reorganization; (4) the nonrecognition of gain or loss shall not apply to any sale or exchange made by a corporation which was a major energy corporation immediately before adopting a plan of complete liquidation; (5) gain shall be recognized on distributions of property in a liquidation by a major energy corporation; and (6) gain shall be recognized on any non-liquidating distribution of a major energy corporation.