Energy Independence and Security Act of 2007/Title XV

{{SECTION|SEC. 1500.|SEC. 1500}}. AMENDMENT OF 1986 CODE.

 * Except as otherwise expressly provided, whenever in this title an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.

{{SECTION|SEC. 1501.|SEC. 1501}}. EXTENSION OF ADDITIONAL 0.2 PERCENT FUTA SURTAX.

 * (a) In General.—
 * Section 3301 (relating to rate of tax) is amended—
 * (1) by striking `2007' in paragraph (1) and inserting `2008', and
 * (2) by striking `2008' in paragraph (2) and inserting `2009'.
 * (b) Effective Date.—
 * The amendments made by this section shall apply to wages paid after December 31, 2007.

{{SECTION|SEC. 1502.|SEC. 1502}}. 7-YEAR AMORTIZATION OF GEOLOGICAL AND GEOPHYSICAL EXPENDITURES FOR CERTAIN MAJOR INTEGRATED OIL COMPANIES.

 * (a) In General.—
 * Subparagraph (A) of section 167(h)(5) (relating to special rule for major integrated oil companies) is amended by striking `5-year' and inserting `7-year'.
 * (b) Effective Date.—
 * The amendment made by this section shall apply to amounts paid or incurred after the date of the enactment of this Act.