A bill to amend the Internal Revenue Code of 1954 to provide, in lieu of the reduced rates for independent producer oil, an exemption of 1000 barrels per day from the crude oil windfall profit tax for independent producers and royalty owners.

Introduced

11 March 1981

Last action

4 August 1981 · Committee

Status

See H.R.4242.

Sponsors

Rep. Hance, Kent R. [D-TX-19], Rep. Loeffler, Tom [R-TX-21], Rep. Wright, James C., Jr. [D-TX-12], Rep. Michel, Robert H. [R-IL-18], Rep. Albosta, Donald J. [D-MI-10], Rep. Alexander, Bill [D-AR-1], Rep. Andrews, Ike [D-NC-4], Rep. Anthony, Beryl, Jr. [D-AR-4], Rep. Ashbrook, John M. [R-OH-17], Rep. Atkinson, Eugene V. [D-PA-25], Rep. Badham, Robert E. [R-CA-40], Rep. Bailey, Donald A. [D-PA-21], Rep. Bailey, Wendell [R-MO-8], Rep. Barnard, Doug, Jr. [D-GA-10], Rep. Beard, Robin [R-TN-6], Rep. Benedict, Cleve [R-WV-2], Rep. Bereuter, Doug [R-NE-1], Rep. Bethune, Ed [R-AR-2], Rep. Boggs, Corinne C. (Lindy) [D-LA-2], Rep. Lloyd, Marilyn [D-TN-3], Rep. Bowen, David R. [D-MS-2], Sen. Breaux, John B. [D-LA], Rep. Brooks, Jack B. [D-TX-9], Rep. Broomfield, William S. [R-MI-18], Sen. Brown, Hank [R-CO], Rep. Broyhill, James T. [R-NC-10], Rep. Burgener, Clair W. [R-CA-43], Rep. Campbell, Carroll A., Jr. [R-SC-4], Rep. Carman, Gregory W. [R-NY-3], Rep. Chappell, Bill, Jr. [D-FL-4], Rep. Chappie, Eugene A. [R-CA-2], Rep. Cheney, Dick [R-WY-At Large], Rep. Clausen, Don H. [R-CA-2], Rep. Clinger, William F., Jr. [R-PA-5], Rep. Coelho, Anthony Lee [D-CA-15], Rep. Collins, James M. [R-TX-3], Rep. Corcoran, Tom [R-IL-14], Rep. Coughlin, Lawrence [R-PA-13], Rep. Courter, Jim [R-NJ-12], Sen. Craig, Larry E. [R-ID], Rep. Crane, Daniel B. [R-IL-19], Rep. Crane, Philip M. [R-IL-8], Rep. Daniel, W. C. (Dan) [D-VA-5], Rep. Daniel, Robert W., Jr. [R-VA-4], Rep. Dannemeyer, William E. [R-CA-39], Rep. Daub, Hal [R-NE-2], Rep. Davis, Robert W. [R-MI-11], Rep. de la Garza, E. [D-TX-15]

Subjects

Taxation

Source updated

7 February 2024