S. 2287
Referred to CommitteeNo Taxation on Device Innovation Act
Latest Action
Read twice and referred to the Committee on Finance.
1/10/2018 • Senate
Summary
No Taxation on Device Innovation Act
This bill amends the Internal Revenue Code to repeal the excise tax on medical devices. The bill also prohibits: (1) major integrated oil companies from using the last-in, first-out (LIFO) accounting method; and (2) the issuance of new oil or natural gas production leases in the Gulf of Mexico under the Outer Continental Shelf Lands Act to any person who does not renegotiate certain existing leases to require royalty payments if the price of oil and natural gas is greater than or equal to specified price thresholds.
Introduced in Senate • 1/10/2018
Topics & Subjects
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Sponsor & Cosponsors (2)
Party Breakdown
Sponsor
Cosponsors (1)
Bill Journey
Originated in the Senate
Introduced
January 10, 2018
Read twice and referred to the Committee on Finance.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law