US Congress House Bill 1533 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 11-0)
Status: Introduced on March 23 2015 - 25% progression, died in committee
Action: 2015-04-07 - Referred to the Subcommittee on Health.
Pending: House Subcommittee on Health Committee
Text: Latest bill text (Introduced) [PDF]

Medical Device Tax Elimination Act This bill amends the Internal Revenue Code to repeal the excise tax on medical devices and offsets the cost of such repeal by: (1) eliminating the tax deduction for income attributable to oil, natural gas, or primary products thereof for major integrated oil companies (companies that have an average daily worldwide annual production of crude oil of at least 500,000 barrels and annual gross receipts in excess of $1 billion); (2) prohibiting the use of the last-in, first-out (LIFO) accounting method by major integrated oil companies; and (3) denying the foreign tax credit to major integrated oil companies that are dual taxpayers (companies that receive an economic benefit from a foreign country or a possession of the United States that does not impose a generally applicable income tax).

Medical Device Tax Elimination Act

Rep. Alma Adams [D-NC]	Rep. Niki Tsongas [D-MA]	Rep. Matthew Cartwright [D-PA]	Rep. Brian Higgins [D-NY]
Rep. Jared Polis [D-CO]	Rep. Betty McCollum [D-MN]	Rep. Steve Cohen [D-TN]	Rep. Ted Lieu [D-CA]
Rep. Bill Foster [D-IL]	Rep. Zoe Lofgren [D-CA]	Rep. Elizabeth Esty [D-CT]

Date	Chamber	Action
2015-04-07	House	Referred to the Subcommittee on Health.
2015-03-23	House	Referred to the House Committee on Ways and Means.
2015-03-23	House	Introduced in House

SB844 (Related) 2015-03-24 - Read twice and referred to the Committee on Finance.
SB1907 (Related) 2015-07-30 - Read twice and referred to the Committee on Finance.
SB2089 (Related) 2015-09-29 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 241.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/1533/all-info
Text	https://www.congress.gov/114/bills/hr1533/BILLS-114hr1533ih.pdf