Sec. 106. Modification of definition of major integrated oil company
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Paragraph
(5)of section 167(h) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: For purposes of this paragraph, the term major integrated oil company includes any successor in interest of a company that was described in subparagraph
(B)in any taxable year, if such successor controls more than 50 percent of the crude oil production or natural gas production of such company. . Subparagraph
(B)of section 167(h)(5) of the Internal Revenue Code of 1986 is amended by inserting except as provided in subparagraph (C), after For purposes of this paragraph, . Clause
(iii)of section 167(h)(5)(B) of such Code is amended— by striking does not apply by reason of paragraph
(4)of section 613A(d) and inserting did not apply by reason of paragraph
(4)of section 613A(d) for any taxable year after 2004 , and by striking does not apply in subclause
(II)and inserting did not apply for the taxable year . The amendments made by this section shall apply to taxable years beginning after December 31, 2013.