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S. 1506: Gulf Coast Oil Recovery Zone Tax Relief and Economic Recovery Act

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S. 1506: Gulf Coast Oil Recovery Zone Tax Relief and Economic Recovery Act

113th Congress · introduced 2013-09-17 · Taxation · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2013-09-17 · official record
  2. Who proposed it: Sen. Wicker, Roger F. [R-MS] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
  5. 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 Coast Oil Recovery Zone Tax Relief and Economic Recovery Act

Plain summary

Gulf Coast Oil Recovery Zone Tax Relief and Economic Recovery Act - Allows non-recognition, for income tax purposes, of proceeds or payments from insurance received in connection with the Gulf oil spill or any payment for damages attributable to the oil spill under the Oil Pollution Act of 1990 that are invested in a qualified recovery zone trade or business within five years after the later of an oil spill payment or the enactment of this Act. Defines: (1) "Gulf oil spill' as the discharge of oil by reason of the explosion on, and sinking of, the mobile offshore drilling unit Deepwater Horizon; (2) "recovery zone" as certain counties in Florida, Mississippi, and Alabama and specified parishes in Louisiana that were affected by the oil spill; and (3) "qualified recovery zone trade or business" as any commercial or charter fishing business or any hotel, lodging, recreation, entertainment operating in, or restaurant business located in, the recovery zone.

Congressional Research Service summary (Introduced in Senate), 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 Coast Oil Recovery Zone Tax Relief and Economic Recovery Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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

Officials and money

Sponsor: Sen. Wicker, Roger F. [R-MS] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Sponsor's campaign money: Sen. Wicker, Roger F. [R-MS] reported raising $306,823 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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.

Sources

Record fed-us-cong113-s1506 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113