United States · Bill · HR
H.R. 1861 (97th)
Oil Industry Tax Reform Act of 1981
Introduced
17 February 1981
Last action
—
Status
Referred to House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
29 August 2025
Summary
Oil Industry Tax Reform Act of 1981 - Amends the Internal Revenue Code to disallow an income tax credit for foreign taxes paid by domestic corporations on foreign oil-related income. Treats such taxes as royalties for which a deduction or exclusion from foreign source income would be allowed. Requires the payment of income taxes at the corporate level on the foreign oil-related income of domestic corporations.
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Versions
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Documents
1 official file
Introduced in House
summary · EN · 17 February 1981
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/97th-congress/house-bill/1861
- Open data entity: https://api.congress.gov/v3/bill/97/hr/1861