H.R. 5699: Gulf Oil Spill Recovery Act of 2010

111th Congress · introduced 2010-07-01 · Taxation · Latest: Referred to the House Committee on Ways and Means.

federal

Follow this bill, step by step

Where it came from: introduced 2010-07-01 · official record
Who proposed it: Rep. Miller, Jeff [R-FL-1] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Gulf Oil Spill Recovery Act of 2010

Plain summary

Gulf Oil Spill Recovery Act of 2010 - Amends the Internal Revenue Code to provide tax benefits in the Gulf Oil Spill Recovery Zone. Defines such Recovery Zone to include certain parishes in Louisiana and certain counties in Alabama, Florida, and Mississippi affected by the discharge of oil resulting from the explosion on, and sinking of, the mobile offshore drilling unit Deepwater Horizon (the Gulf Oil Spill). Provides for: (1) the issuance of tax-exempt Gulf Oil Spill Recovery Zone Bonds through 2015 to finance certain projects in the Recovery Zone; (2) additional low-income housing tax credit amounts in the Recovery Zone; (3) increased depreciation and expensing allowances for investment property placed in service in the Recovery Zone; (4) expensing of costs for the removal of debris from the Recovery Zone, the demolition of structures located in the Recovery Zone, and environmental remediation of contaminated sites in the Recovery Zone; (5) an extended five-year carryover period for net operating losses incurred in the Recovery Zone; (6) a tax credit to holders of Gulf Oil Spill Recovery Tax Credit Bonds; (7) a new markets tax credit for investment in community development entities in the Recovery Zone; and (8) the deductibility of casualty losses incurred by public utilities in the Recovery Zone. Excludes the value of employer-provided housing from the gross income of employees affected by the Gulf Oil Spill. Allows tax-free withdrawals up to $100,000 from retirement plans by individuals residing in the Recovery Zone and who sustained an economic loss by reason of the Gulf Oil Spill. Allows a business-related tax credit for wages paid to employees working in the Recovery Zone. Suspends through 2012 limitations on the tax deduction for charitable contributions to organizations involved in relief efforts related to the Gulf Oil Spill. Expands the availability of mortgage revenue bond financing for owner-occupied residences in the Recovery Zone. Authorizes the Secretary of the Treasury to extend the placed-in-service date for bonus depreciation of property located in the Recovery Zone.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Gulf Oil Spill Recovery Act of 2010

Source: Congressional Research Service summary (Introduced in House)

AI explanation – may be wrong, check the official text

No AI explanation yet. It takes up to a minute to write and is then saved for everyone.

Limited to a few requests an hour per person.

The strongest published arguments

Arguments for (supporters)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Arguments against (opponents)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Alternatives

Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.

How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Miller, Jeff [R-FL-1] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Bond: A way to borrow money. A government sells bonds to raise money now and promises to pay it back with interest over time. Bonds repaid from taxes often need voter approval.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111hr5699.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/hr>

Record fed-us-cong111-hr5699 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111