Legis Daily

A bill to amend the Internal Revenue Code of 1986 to include foreign oil and gas extraction income in net CFC tested income, to include income from the extraction of minerals from oil shale and tar sands in the definitions of foreign oil and gas extraction income and foreign oil related income, and for other purposes.

USA119th CongressS-5350| Senate 
| Updated: 8/6/2026
Martin Heinrich

Martin Heinrich

Democratic Senator

New Mexico

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Timeline
Aug 6, 2026
Introduced in Senate
Aug 6, 2026
Read twice and referred to the Committee on Finance.
  • August 6, 2026
    Introduced in Senate


  • August 6, 2026
    Read twice and referred to the Committee on Finance.

A bill to amend the Internal Revenue Code of 1986 to include foreign oil and gas extraction income in net CFC tested income, to include income from the extraction of minerals from oil shale and tar sands in the definitions of foreign oil and gas extraction income and foreign oil related income, and for other purposes.

USA119th CongressS-5350| Senate 
| Updated: 8/6/2026
Timeline
Aug 6, 2026
Introduced in Senate
Aug 6, 2026
Read twice and referred to the Committee on Finance.
  • August 6, 2026
    Introduced in Senate


  • August 6, 2026
    Read twice and referred to the Committee on Finance.
Martin Heinrich

Martin Heinrich

Democratic Senator

New Mexico

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted