Section 1 Short title
This Act may be cited as the “Mayflower Oil Spill Tax Relief Act of 2013”.
Mayflower Oil Spill Tax Relief Act of 2013
A BILL
To exclude from gross income compensation provided for victims of the March 29, 2013, pipeline oil spill in Mayflower, Arkansas.
Sec. 2 Mayflower, Arkansas, oil spill compensation excluded from gross income
For purposes of the Internal Revenue Code of 1986—
the March 29, 2013, pipeline rupture and oil spill in Mayflower, Arkansas, shall be treated as a qualified disaster under section 139(c) of such Code, and
any compensation provided to or for the benefit of a victim of such disaster shall be treated as a qualified disaster relief payment under section 139(b) of such Code.