A bill to amend the Internal Revenue Code of 1954 to eliminate the phase-down of the rate of percentage depletion for independent producers and royalty holders.

referredUnited States· United States Congress· EN

Introduced

27 January 1981

Last action

27 January 1981 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Jones, James R. [D-OK-1], Rep. Archer, Bill [R-TX-7], Rep. Boggs, Corinne C. (Lindy) [D-LA-2], Rep. Brooks, Jack B. [D-TX-9], Rep. Coelho, Anthony Lee [D-CA-15], Rep. de la Garza, E. [D-TX-15], Rep. Duncan, John J. [R-TN-2], Rep. English, Glenn [D-OK-6], Rep. Frost, Martin [D-TX-24], Rep. Hall, Sam B., Jr. [D-TX-1], Rep. Livingston, Bob [R-LA-1], Rep. Loeffler, Tom [R-TX-21], Rep. Marlenee, Ron [R-MT-2], Rep. Patman, William N. [D-TX-14], Rep. Roberts, Clint [R-SD-2], Rep. Roemer, Buddy [D-LA-4], Rep. Schroeder, Patricia [D-CO-1], Rep. Stenholm, Charles W. [D-TX-17], Rep. Synar, Mike [D-OK-2], Rep. Tauzin, W. J. (Billy) [R-LA-3], Rep. Watkins, Wes [R-OK-3], Rep. White, Richard C. [D-TX-16], Rep. Whittaker, Bob [R-KS-5], Rep. Wilson, Charles [D-TX-2]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official source View documents Share

Summary

Amends the Internal Revenue Code to eliminate the phased reduction of the rate of the percentage depletion allowance for independent oil and gas producers and royalty owners (reduced to 15 percent by 1984) and to retain the 22 percent rate for taxable years ending after 1980.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

27 January 1981
Introduced
Introduced in House
Source: IntroReferral
27 January 1981
Introduced
Referred to House Committee on Ways and Means.
Source: IntroReferral
27 January 1981
Introduced
Introduced in House
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

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Introduced in House
summary · EN · 27 January 1981
Open at official source

Related records

related to ← A bill to amend the Internal Revenue Code of 1954 to make permanent the 22 percent rate of percentage depletion for independent producers and royalty owners.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/97th-congress/house-bill/1328
Open data entity: https://api.congress.gov/v3/bill/97/hr/1328
us · 97-hr-1328 · source updated 7 February 2024