This bill repeals the excise tax on medical devices and offsets the cost of such repeal by prohibiting: (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 their existing leases to generate payment of royalties from such leases.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2015-03-24 | IntroReferral | Read twice and referred to the Committee on Finance. | Senate |
| 2015-03-24 | IntroReferral | Introduced in Senate | Library of Congress |