HR 2203 IH

106th CONGRESS

1st Session

H. R. 2203

To eliminate corporate welfare.

IN THE HOUSE OF REPRESENTATIVES

June 15, 1999

Mr. ANDREWS introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on Resources, Agriculture, Commerce, Transportation and Infrastructure, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned


A BILL

To eliminate corporate welfare.

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

TITLE I--TAX REFORM

TITLE II--NATURAL RESOURCES

Subtitle A--General Provisions

Subtitle B--Revenue From Mining Claims

Subtitle C--Use or Disposal of Federal Natural Resources

TITLE I--TAX REFORM

SEC. 101. SHORT TITLE; REFERENCES TO INTERNAL REVENUE CODE OF 1986.

section or other provision of the Internal Revenue Code of 1986.

SEC. 102. REPEAL OF EXPENSING OF INTANGIBLE DRILLING AND DEVELOPMENT COSTS AND OF MINING EXPLORATION AND DEVELOPMENT COSTS.

SEC. 103. TERMINATION OF CREDIT FOR PRODUCING FUEL FROM NONCONVENTIONAL SOURCE.

SEC. 104. REPEAL OF PERCENTAGE DEPLETION.

SEC. 105. REPEAL OF TAX BENEFITS FOR ALCOHOL FUELS.

SEC. 106. REPEAL OF ENHANCED OIL RECOVERY CREDIT.

SEC. 107. REPEAL OF CREDIT AND DEDUCTION FOR ELECTRIC VEHICLES, CLEAN-FUEL VEHICLES, AND CERTAIN REFUELING PROPERTY.

SEC. 108. REPEAL OF DEDUCTION FOR TERTIARY INJECTANTS.

SEC. 109. REPEAL OF REHABILITATION CREDIT FOR NONHISTORIC STRUCTURES; REDUCTION OF REHABILITATION CREDIT FOR CERTIFIED HISTORIC STRUCTURES.

SEC. 110. REPEAL OF TREATMENT OF BLUE CROSS AND BLUE SHIELD ORGANIZATIONS, ETC.

SEC. 111. REPEAL OF SMALL LIFE INSURANCE COMPANY DEDUCTION.

SEC. 112. REPEAL OF ALTERNATIVE TAX ON SMALL PROPERTY AND CASUALTY INSURANCE COMPANIES.

SEC. 113. CASH ACCOUNTING AND EXPENSING FOR AGRICULTURE.

SEC. 114. REPEAL OF EXCLUSION FOR CANCELLATION OF QUALIFIED FARM INDEBTEDNESS.

SEC. 115. REPEAL OF EXCLUSION FOR CERTAIN COST-SHARING PAYMENTS.

SEC. 116. REDUCTION OF EXPENSING OF TIMBER-GROWING COSTS.

SEC. 117. REPEAL OF REFORESTATION CREDIT.

`SEC. 48. ENERGY CREDIT.'

`Sec. 48. Energy credit.'

SEC. 118. REPEAL OF RAPID AMORTIZATION OF REFORESTATION EXPENDITURES.

before its repeal by the Corporate Welfare Elimination Act of 1999)' after `section 194'.

SEC. 119. TERMINATION OF EXCLUSION OF CERTAIN INCOME OF CITIZENS OR RESIDENTS OF UNITED STATES LIVING ABROAD.

SEC. 120. REPEAL OF EXCLUSION FOR INCOME OF FOREIGN SALES CORPORATIONS.

SEC. 121. REPEAL OF DEFERRAL OF INCOME OF CONTROLLED FOREIGN CORPORATIONS.

`SEC. 952. SUBPART F INCOME.

any such deficit may be taken into account under this paragraph only to offset amounts attributable to the same activity as the activity giving rise to such deficit.

`SEC. 953. SPECIAL RULES FOR CERTAIN INSURANCE COMPANIES.

the conduct of a trade or business in the United States, and

`Sec. 952. Subpart F income.

`Sec. 953. Special rules for certain insurance companies.'

SEC. 122. REPEAL OF DEFERRAL OF TAX UNDER MERCHANT MARINE CAPITAL CONSTRUCTIONS FUNDS.

SEC. 123. REPEAL OF SPECIAL TREATMENT FOR MAGAZINE CIRCULATION EXPENDITURES.

SEC. 124. REPEAL OF SPECIAL TREATMENT FOR RETURNS OF MAGAZINES, PAPERBACKS, AND RECORDS.

TITLE II--NATURAL RESOURCES

SEC. 201. PUBLIC RESOURCES DEFICIT REDUCTION ACT OF 1999.

Subtitle A--General Provisions

SEC. 211. FAIR MARKET VALUE FOR RESOURCE DISPOSAL.

SEC. 212. FEES FROM PROGRAM BENEFICIARIES.

SEC. 213. REVENUES FROM SALE, LEASE, AND TRANSFER OF ASSETS.

Subtitle B--Revenue From Mining Claims

SEC. 221. DEFINITIONS.

SEC. 222. MINING CLAIM MAINTENANCE REQUIREMENTS.

to contribute his portion, his interest in the claim shall become the property of the co-owners who have paid the required fee.

SEC. 223. ROYALTY.

conform with such minimum standards as the Secretary may prescribe by rule, taking into account the variety of circumstances on mining claims; and

technical and financial data relating to the quantity, quality, composition volume, weight, and assay of all minerals extracted from the mining claim. Upon the request of any officer or employee duly designated by the Secretary or any State conducting an audit or investigation pursuant to this section, the appropriate records, reports, or information which may be required by this section shall be made available for inspection and duplication by such officer or employee or State.

Secretary may assess a penalty of 10 percent of the amount of that underreporting.

may have occurred, or before 90 days after the date of the enactment of this section, whichever is later.

SEC. 224. SEVERANCE TAX.

`Subchapter G--Tax on Severance of Locatable Minerals

`SEC. 4500. TAX ON SEVERANCE OF LOCATABLE MINERALS.

`SUBCHAPTER G. Tax on severance of locatable minerals.'.

SEC. 225. FUND FOR ABANDONED LOCATABLE MINERALS MINE RECLAMATION.

public entity that volunteers to develop and implement, and that has the ability to carry out, all or a significant portion of a reclamation program under this subtitle.

SEC. 226. LIMITATION ON PATENT ISSUANCE.

SEC. 227. PURCHASING POWER ADJUSTMENT.

SEC. 228. SAVINGS CLAUSE.

SEC. 229. EFFECTIVE DATE.

Subtitle C--Use or Disposal of Federal Natural Resources

SEC. 231. ANNUAL DOMESTIC LIVESTOCK GRAZING FEE.

`SEC. 401A. ESTABLISHMENT OF FAIR MARKET VALUE GRAZING FEES.

                              
[ Formula's typesetting may mislead! ]
          Fair Market Value=Appraised Base Value x Forage Value Index / (100)

than 33.3 percent from the domestic livestock grazing fee for the previous year.

SEC. 232. ELIMINATION OF BELOW-COST SALES OF TIMBER FROM NATIONAL FOREST SYSTEM LANDS.

`SEC. 14A. ELIMINATION OF BELOW-COST TIMBER SALES FROM NATIONAL FOREST SYSTEM LANDS.

SEC. 233. TIMBERLAND SUITABILITY.

SEC. 234. REDUCTION IN MAXIMUM AMOUNT OF PAYMENTS UNDER AGRICULTURAL ASSISTANCE PROGRAMS TO REFLECT RECEIPT OF FEDERAL IRRIGATION WATER.

`SEC. 1001D. REDUCTION OF PAYMENT LIMITATIONS TO REFLECT RECEIPT OF FEDERAL IRRIGATION WATER.

be reduced for that year. The amount of the reduction shall be equal to the total value during that year of the subsidy portion of the contract with such person for the delivery of the irrigation water.

SEC. 235. ELIMINATION OF OFF BUDGET EXPENDITURES.

SEC. 236. DEPOSIT OF TAYLOR GRAZING ACT RECEIPTS IN TREASURY.

SEC. 237. REPEAL OF LIVESTOCK FEED ASSISTANCE PROGRAM.

SEC. 238. OIL AND GAS RENTALS.

based upon the rental fees which would be charged in arms length transactions for comparable leases of oil and gas resources on non-Federal land.'.

SEC. 239. COMMUNICATION PERMITS.

END