FL S0216

Requests Congress exempt Deepwater Horizon oil disaster claim payments from federal income tax for lost wages, income, profits, and property damage to individuals and businesses.

Requests Congress extend net operating loss carryback period from 2 years to 5 years for fishing- and tourism-related businesses affected by the disaster.

References April 20, 2010 Deepwater Horizon explosion that spilled hundreds of millions of gallons of oil into the Gulf of Mexico, damaging Florida's coastline and fishing and tourism industries.

Cites preliminary University of Central Florida study projecting up to 195,000 job losses and $10.9 billion in spending losses if Gulf Coast counties lose 50 percent of tourism and leisure employment.

Directs copies of the memorial be sent to the President, Senate President, House Speaker, and all members of the Florida congressional delegation.