Code · BILL · 116th Congress · S. 4041 (Introduced in Senate) — To assist the American energy sector in retaining jobs during challenging economic times. · Sec. 3

Sec. 3. Temporary suspension of rules for capitalization and inclusion in inventory costs of certain expenses for specified entities

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Section 263A(a) of the Internal Revenue Code of 1986 is amended by adding at the end the following: In the case of any taxpayer which is assigned North American Industry Classification System code 213111, at the election of such taxpayer, this section shall not apply with respect to any costs paid or incurred by such taxpayer which are described in paragraph (2). This paragraph shall not apply to costs paid or incurred after December 31, 2020. . The amendment made by this section shall apply to costs paid or incurred after December 31, 2019.