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United States · Bill · HR

H.R. 1974 (97th)

A bill to amend the Internal Revenue Code of 1954 to provide that the windfall profit tax shall not apply to an amount of crude oil equal to the amount of residual fuel oil used to produce the crude oil.

referredUnited States· United States Congress· EN

Introduced

19 February 1981

Last action

19 February 1981 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Thomas, William M. [R-CA-20], Rep. Petri, Thomas E. [R-WI-6], Rep. Coelho, Anthony Lee [D-CA-15], Rep. Lungren, Daniel E. [R-CA-42], Rep. Lagomarsino, Robert J. [R-CA-19], Rep. Collins, James M. [R-TX-3], Rep. Lowery, Bill [R-CA-41], Rep. Rousselot, John H. [R-CA-26], Rep. Frenzel, Bill [R-MN-3], Rep. Fazio, Vic [D-CA-4], Rep. Courter, Jim [R-NJ-12], Rep. Badham, Robert E. [R-CA-40], Rep. Lott, Trent [R-MS-5], Rep. Jones, James R. [D-OK-1], Rep. Montgomery, G. V. (Sonny) [D-MS-3], Rep. Burgener, Clair W. [R-CA-43], Rep. Kramer, Ken [R-CO-5], Rep. Miller, George [D-CA-7], Rep. Pashayan, Charles, Jr. [R-CA-17], Rep. McCloskey, Paul N., Jr. [R-CA-12]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to exempt from the windfall profit tax an amount of crude oil equal to the amount of residual fuel oil used in the production of otherwise taxable crude oil. Defines "residual fuel oil."

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

Timeline

  1. 19 February 1981

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 19 February 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 19 February 1981

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Sponsors

Related records

No cross-record relationships stored yet.

Sources

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